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please solve this step by step Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the
please solve this step by step
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 $231,970 (b) Requisitioned materials at a cost of $112,100, of which $16,000 was for general factory use (c) Recorded factory labor of $224,400, of which $42,475 was indirect. (d) Incurred other costs Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $35,400 22,700 51,450 11,900 20,000 (e) Applied overhead at a rate equal to 126 percent of direct labor cost. ( Completed jobs costing $262,450 (g) Sold jobs costing $322,670 (h) 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. (Round your answers to 2 decimal places.) Raw Materials Inventory Work in Process Inventory Beg. Bal 29,500.00 Beg. Bal 18,100.00 231,970.00 End. Bal. 261,470.00 End. Bal 18,100.00Step by Step Solution
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