req 3b is not needed
Lamonda Corp. uses a job order cost system. On April 1. the accounts had batances as shown in the T-accounts below: The following transactions occurred during April (a) Purchased materials on account at a cost of $232,970, (b) Requisitioned materials at a cost of $110,400, of which $15,800 was for general factory use. (c) Recorded factory labor of $223,700, of which $42,075 was indirect. (d) incurred other costs: Selling expense $34,400 Factory utilities 24,300 Administrative expenses 50,250 Factory rent 12,000 Factory depreciation 19,900 (0) Applied overhead at a rate equal to 129 percent of direct labor cost Completed jobs costing $263,450. (9) Sold jobs costing $324,170. ) Recorded sales revenue of $503,000. Required: 1.8 2. Post the April transactions to the T-accounts and compute the botance in the accounts at the end of April. (Post each transaction (d) cost separately. Round your answers to 2 decimal places.) 3-0. Compute over or underapplius manufacturing overhead (Round your answer to 2 decimal places.) 3b. 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 Lomonda'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.) ce Reg 1 and 2 Req 3a Req 3b Req 4 Req 5 Post the April transactions to the T-accounts and compute the balance in the accounts at the end o (Post each transaction (d) cost separately. Round your answers to 2 decimal places.) Raw Materials Inventory Work in Process Inventory Beg. Bal 29,900.00 Beg. Bal. 19,500.00 End. Bal. 29,900.00 End. Bal 19,500.00 Beg. Bal. Finished Goods Inventory 123,300.00 Manufacturing Overhead Beg. Bal. End. Bal. 123,300.00 End. Bal. 0.00 Cost of Goods Sold Beg. Bal. Sales Revenue Beg Bal. End. Bal. 0.00 End. Bal. 0.00 Nonmanufacturing Expenses Beg. Bal. End. Bal. 0.00 Reg 1 and 2 Req 3a > Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req 3a Reg 36 Reg 4 Reg 5 Compute over or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Manufacturing Overhead Prepare Lamonda's cost of goods manufactured report for April. (Round your answers to 2 decimal places.) LAMONDA CORP. Cost of Goods Manufactured Report For the Month of April Direct Materials Used $ 0.00 Total Current Manufacturing Costs Cost of Goods Manufactured Req 1 and 2 Reg 3a Reg 3b Reg 4 Reg 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.) Show less LAMONDA CORP. Income Statement For the Month of April Cost of Goods Sold Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Net Income (Loss) from Operations
