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, 2-6] Lamonda Corp. 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 $233,570. (b) Requisitioned materials at a cost of $111,600, of which $15,500 was for general factory use. (c) Recorded factory labor of $225,000, of which $43,175 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Pactory depreciation $35.900 24,100 50,150 10,800 19,200 (e) Applied overhead at a rate equal to 145 percent of direct labor cost. Completed jobs costing $263,350. (a) Sold jobs costing $324,170. (1) Recorded sales revenue of $503,000, Required: 1. & 2. Post the April transactions to the T-accounts 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 underapplied manufacturing overhead (Round your answer to 2 decimal places.) 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 (Round your answers to 2 decimal places.) 5. Prepare Lamonda's April income statement. Include any adjustment to cost of Goods Sold needed to dispose of over-or underapplied manufacturing overhead. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Reg 1 ond 2 Reg 30 Reg 3b 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 (d) cost separately Round your answers to 2 decimal places.) Raw Materials Inventory 50 Ant Work in Process Inventory 0 m DAR OM Req 1 and 2 Req 3a Reg 3b 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 (d Round your answers to 2 decimal places) Work in Process Inventory Raw Materials Inventory 28,400.00 Beg. Bal 19,500.00 Beg Bal. End. Bal. 28,400.00 End. Bal 19,500.00 Manufacturing Overhead Finished Goods Inventory 124,600.00 Beg Bal. Beg. Bal End. Bal. 124,600.00 0.00 End. Bal. Sales Revenue Cost of Goods Sold EL Beg Bal. Beg. Bal. 0.00 End. Bal. End. Bal. 0.00 Nonmanufacturing Expenses Beg. Bal. End, Bal 0.00 oppidid Complete this question by entering your answers in the tabs below. Reg 1 and 2 Regja Reg 3 Req4 Reqs Compute over, or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Manufacturne Overhead
