Lamonda Corporation uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: Purchased materials on account at a cost of $231,870. Requisitioned materials at a cost of $110,800, of which $15,800 was for general factory use. Recorded unpaid factory labor of $224,800, of which $43,275 was indirect. Incurred other costs: Selling expense $ 35,600 Factory utilities 24,600 Administrative expenses 49,850 Factory rent 10,000 Factory depreciation 19,900 Applied overhead at a rate equal to 143 percent of direct labor cost. Completed jobs costing $263,550. Sold jobs costing $323,970. Recorded sales revenue (on account) of $502,000. Required: 1. & 2. Post the Required:

1. & 2. Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April.

3-a. Compute over- or underapplied manufacturing overhead.

3-b. If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will Cost of Goods Sold increase or decrease?

4. Prepare Lamondas cost of goods manufactured report for April.

5. Prepare Lamondas April income statement. Include any adjustment to Cost of Goods Sold needed to dispose of over- or underapplied manufacturing overhead.