Zoom in if needed. 
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 $233,270. (b) Requisitioned materials at a cost of $110,300, of which $16,500 was for general factory use. (c) Recorded factory labor of $223,800, of which $42,575 was indirect (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $34,500 24,000 52,450 11,500 19,200 (e) Applied overhead at a rate equal to 131 percent of direct labor cost. () Completed Jobs costing $263,150. (9) Sold jobs costing $323,470. (h) Recorded sales revenue of $504,000. 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.) Factory depreciation 19,200 (e) Applied overhead at a rate equal to 131 percent of direct labor cost. (1) Completed jobs costing $263,150. (9) Sold jobs casting $323,470. (h) Recorded sales revenue of $504,000. 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.) Answer is not complete. Complete this question by entering your answers in the tabs below. End, Bal. 19,300.00 Manufacturing Overhead Finished Goods Inventory 124,900.00 Beg, Bali Beg. Bal. End. Bal 124,900.00 End. Bal 0.00 Cost of Goods Sold Sales Revenue Beg. Bal. Beg. Bal. End. Bal. 0.00 End. Bal. 0.00 Nanmanufacturing Expenses Beg. Bal End. Bal. 0.00 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.) X Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3a Reg 3b Reg 4 Reg 5 Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Manufacturing Overhead Overapplied by 141,700.00 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.) X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 38 Reg 3b Reg 4 Reg 5 If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will cost of Goods Sold increase or decrease? Increase Decrease 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.) X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 38 Reg 3b Reg 4 Reg 5 If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will cost of Goods Sold increase or decrease? Increase Decrease Req 1 and 2 Req3a Reg 3b Reg 4 Reg 5 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 Beginning Raw Materials Inventory $ 28,900.00 Plus: Raw Material Purchases 233,270.00 Less: Indirect Materials (16,500.00) Less: Ending Raw Materials Inventory (158,170.00) Direct Materials Used $ 93,800.00 Direct Labor 180,825.00 Manufacturing Overhead Applied 236,881.00 Plus: Ending Work in Process Inventory 19,300.00 Total Current Manufacturing Costs $530,806.00 Plus: Beginning Work in Process Inventory Less: Ending Work in Process Inventory Cost of Goods Manufactured Reg 1 and 2 Req 3a Reg 3b Req 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.) LAMONDA CORP. Income Statement For the Month of April Sales Revenue 504,000.00 124,900.00 263,150.00 (64.580.00) 323,470.00 Cost of Goods Sold Beginning Finished Goods Inventory Less: Cost of Goods Manufactured Less: Ending Finished Goods Inventory Unadjusted Cost of Goods Sold Less: Overapplied Manufacturing Overhead justed Cost of Goods Sold Gross Profit Selling and Administrative Expenses Net Income (Loss) from Operations 303,636.00 85,950.00 217,686.00 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.) X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 38 Reg 3b Reg 4 Reg 5 If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will cost of Goods Sold increase or decrease? Increase Decrease 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.) X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 38 Reg 3b Reg 4 Reg 5 If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will cost of Goods Sold increase or decrease? Increase Decrease Req 1 and 2 Req3a Reg 3b Reg 4 Reg 5 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 Beginning Raw Materials Inventory $ 28,900.00 Plus: Raw Material Purchases 233,270.00 Less: Indirect Materials (16,500.00) Less: Ending Raw Materials Inventory (158,170.00) Direct Materials Used $ 93,800.00 Direct Labor 180,825.00 Manufacturing Overhead Applied 236,881.00 Plus: Ending Work in Process Inventory 19,300.00 Total Current Manufacturing Costs $530,806.00 Plus: Beginning Work in Process Inventory Less: Ending Work in Process Inventory Cost of Goods Manufactured Reg 1 and 2 Req 3a Reg 3b Req 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.) LAMONDA CORP. Income Statement For the Month of April Sales Revenue 504,000.00 124,900.00 263,150.00 (64.580.00) 323,470.00 Cost of Goods Sold Beginning Finished Goods Inventory Less: Cost of Goods Manufactured Less: Ending Finished Goods Inventory Unadjusted Cost of Goods Sold Less: Overapplied Manufacturing Overhead justed Cost of Goods Sold Gross Profit Selling and Administrative Expenses Net Income (Loss) from Operations 303,636.00 85,950.00 217,686.00
