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 a. Purchased materials on account at a cost of $232.570. b. Requisitioned materials at a cost of $111,700, of which $16,500 was for general factory use. c. Recorded unpaid factory labor of $224,800, of which $43,575 was indirect. d. Incurred other costs Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $35,000 24,400 51,150 10,400 19,200 e. Applied overhead at a rate equal to 138 percent of direct labor cost. f. Completed jobs costing $263,250. g. Sold jobs costing $323,570. h. Recorded sales revenue (on account) of $520,000 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 Lamonda's cost of goods manufactured report for April. 5. Prepare Lamonda's April income statement. Include any adjustment to Cost of Goods Sold needed to dispose of over- or underappilled manufacturing overhead. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 3b. Req 4 Req 5 Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. Note: Post each transaction (d) cost separately. Round your answers to 2 decimal places. Raw Materials Inventory Work in Process Inventory Prev 1 of 1 Next > & Exit Nonmanufacturing Expenses Debit Beginning Balance Ending Balance 0.00 Credit Req 1 and 2 hapter 26 Debit Beginning Balance Raw Materials Inventory 30,000.00 Ending Balance 30,000.00 Debit Beginning Balance Finished Goods Inventory 124,700.00 Ending Balance 124,700.00 Credit Seved Debit Beginning Balance Work in Process Inventory 18,100.00 Credit Ending Balance 18,100.00 Manufacturing Overhead Credit Debit Credit Beginning Balance Ending Balance 0.00 Cost of Goods Sold Sales Revenue Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance 0.00 Nonmanufacturing Expenses Ending Balance 0.00 Compute over- or underapplied manufacturing overhead. Note: Round your answer to 2 decimal places. Manufacturing Overhead If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will Cost of Goods Sold increase or decrease? Oincrease Decrease LAMONDA CORPORATION Cost of Goods Manufactured Report For the Month of April Direct Materials Used Total Current Manufacturing Costs S 0.00 Cost of Goods Manufactured Cost of Goods Sold LAMONDA CORPORATION Income Statement For the Month of April 124,700.00 263,250.00 Unadjusted Cost of Goods Sold 323,570.00 Adjusted Cost of Goods Sold Net Income (Loss) from Operations: