PA2-1 (Algo) Recording Manufacturing and Nonmanufacturing Costs, Preparing the Cost of Goods Manufactured Report and Income Statement [LO 2-3, 2-4, 2-5, 2-61 Lamonds Corp. uses a job order cost system. On April 1. the sccounts had bslances as shown in the T-sccounts below. The following transactions occurred during April: (a) Purchased materials on account at a cost of S233,370. b) Requisitioned meteriols et a cost of $111.600, of which $15.100 wes for general factory use. (c) Recorded factory labor of $225,300, of which $43.375 was indirect. () incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation 535,500 24,60 51.450 11,482 19.183 (e) Applied overhead at a rate equal to 131 percent of direct labor cost. Completed jobs costing $263,250 (9) Sold jobs costing $323,070. (h) Recorded sales revenue of $514,000. Required: 1.& 2 Post the April transactions to the T-sccounts and compute the balance in the accounts at the end of April. (Post each transaction (d) cost separately. Round your answers to 2 decimal places.) 3-a. Compute over- or uncerspplied manufacturing overhesd. (Round your answer to 2 decimal places.) 3-b. If the balance in the Menufacturing Overhead account is closed directly to cost of Goods Solo, will cost of Goods Sold increase or decrease? 4. Prepare Lamonde's cost of goods manufactured report for April. (Round your answers to 2 decimal places.) 5. Prepare Lemondo's April income statement. Include any adjustment to cost of Goods Sold needed to dispose of over-or underapplied manufacturing overnesd. (Round your answers to 2 decimal places.) 5. Prepare Lomonda's April income statement. Include any adjustment to Cost of Goods Sold needed to dispose of over-or underspplied manufacturing overhesd. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3a Reg 36 Reg 4 Reg 5 Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. (Post each transaction (4) cost separately. Round your answers to 2 decimal places.) Raw Materials inventory 29,800.00 Work in Process Inventory 18,900.00 Beg. Bal Beg. Bal End. Bil 29,600.00 End. Bal. 18.900.00 Manufacturing Overhead Finished Goods Inventory 124,000.00 Beg. Bal Beg. Bal End. Bil 124,000.00 End. Bal 0.00 Cost of Goods Sold Sales Revenue Reg. Bal Beg. Bal End. Bal 0.00 End. Bal 0.00 Nonmanufacturing Expenses Beg, Bali End. Bal 0.00 ROTT Req3a >