k (Required) Saved The following transactions occurred during April: (a) Purchased materials on account at a cost of $231,870. (b) Requisitioned materials at a cost of $111,100, of which $15,100 was for general factory use. (c) Recorded factory labor of $225,100, of which $41,975 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $34,600 24,400 51,050 10,000 20,300 ces (e) Applied overhead at a rate equal to 140 percent of direct labor cost. (0) Completed jobs costing $261,950. (g) Sold jobs costing $323,270. (h) Recorded sales revenue of $515,000. Required: 1. & 2. Post the April transactions to the T-accounts and compute the balance in the accounts at the end of 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 Cos decrease? 4. Prepare Lamonda's cost of goods manufactured report for April. (Round your answers to 2 decimal place 5. Prepare Lamonda's April income statement. Include any adjustment to Cost of Goods Sold needed to disp underapplied manufacturing overhead. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. ezto.mheducation.com k (Required) Saved He Kaw Materials inventory Work in Process inventory Beg Bat (a) 18,200.00 28,100.00 231,870,00 111,100.00 (6) 261,950.00 (0) Beg. Bal. (b) c) (e) End Bal. 148.870.00 End. Bal. 243,750.00 Manufacturing Overhead Beg. Bal 10 Finished Goods Inventory 124,600.00 261,950.00 323,270.00 (9) 15,100.00 (0) Beg. Bat. (b) (c) (d) (d) (d) End. Bat. 63,280.00 20,300.00 24,400.00 10,000.00 20,300.00 90,100.00 End. Bal Cost of Goods Sold Sales Revenue Beg Ba a) . Bal, 323,270.00 515,000.00 (0) End. Bat 323,270,00 End Bal 515,000.00 Nonmanufacturing Expenses Bog. Bal id) (d) 34,600.00 51.050.00 85,650.00 End. Bal Complete this question by entering your answers in the tabs below. Req 1 and 2 Req Reg 3b Reg 4 Reg 5 ook Prepare Lamonda's cost of goods manufactured report for April. (Round your answers to 2 decima rint LAMONDA CORP. Cost of Goods Manufactured Report For the Month of April Beginning Raw Materials Inventory $ 28,100.00 Plus: Raw Material Purchases 231,870.00 Less: Indirect Materials 15,100.00 Less: Ending Raw Materials Inventory Direct Materials Used erences Total Current Manufacturing Costs $ 0.00 Cost of Goods Manufactured Req 3b Req 5 > Req 1 and 2 Reg Req3b Req 4 Req 5 Prepare Lamonda's April income statement. Include any adjustment to cost of Goods Sold needed to dispose o underapplied manufacturing overhead. (Round your answers to 2 decimal places.) LAMONDA CORP. Income Statement For the Month of April Cost of Goods Sold Beginning Finished Goods Inventory Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Net Income (Loss) from Operations
