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  3. 1 and 2 post the april transactions to the taccounts...

Question: 1 and 2 post the april transactions to the taccounts...

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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 $232,070 (b) Requisitioned materials at a cost of $110,900, of which $15,200 was for general factory use (c) Recorded factory labor of $224,500, of which $42,675 was indirect. (d) Incurred other costs Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $35,700 24,600 51,050 11,900 20,700 (e) Applied overhead at a rate equal to 127 percent of direct labor cost. (f) Completed jobs costing $263,450 (g) Sold jobs costing $324,670 (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 28,200.00 Beg. Bal 19,200.00 End. Bal 28,200.00 End. Bal 19,200.00Finished Goods Inventory Manufacturing Overhead Beg. Bal. 123,200.00 Beg. Bal. End. Bal 123,200.00 End. Bal. 0.00 Cost of Goods Sold Sales Revenue Beg. Bal. Beg. Bal. End. Bal. 0.00 End. Bal. 0.00 Selling and Administrative Expenses Beg. Bal. End. Bal. 0.003-a. Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) anufacturing Overhead 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? Decrease Increase 4. Prepare Lamondas 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 Total Current Manufacturing Costs $ 0.00 Cost of Goods Manufactured5. Prepare Lamondas 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 Cost of Goods Sold Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Net Income (Loss) from Operations

1. and 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.)

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.)

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