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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 $232,770 (b) Requisitioned materials at a cost of $111,600, of which $15,400 was for general factory use (c) Recorded factory labor of $224,900, of which $41,875 was indirect. (d) Incurred other costs Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation S34,500 22,900 50,950 11,700 19,300 (e) Applied overhead at a rate equal to 142 percent of direct labor cost. () Completed jobs costing $263,250 (g) Sold jobs costing $324,070 (h) Recorded sales revenue of $508,000 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 28,900.00 Beg. Bal 18,100.00 End. Bal 28,900.00 End. Bal 18,100.00Finished Goods Inventory Manufacturing Overhead Beg. Bal 123,900.00 Beg. Bal. End. Bal 123,900.00 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 0.00 3-a. Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Manufacturing Overhead3-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? Increase Decrease 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 ans 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

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1 & 2 :

uishoned Hale, oo Beが(ning Bal.. | 28,900 | Requi Rchasd akal 232,7 Gndinalance 150, o0 28,o Re

plele d jobs 263250 620C Fachos labous *splied ovabead of isect aboor Cost259816 (224900-48B)关1421 131 Begiing Balance 123,00 sold jobs(o3,o Comple led jobs Cost26 3,2so Gndin Balance. 6308o Ovenhec Applie d Oven hea disect labouxCost59 Begining Balance 15,400 Indixect fabo Cost $11,815 11,00 facho Rent facloxu deprecialton | 19,300 4372/Gods sold dales Rvnue Sales Revente 5o8 ooo Sold jobs Coshng | 324,0 Beg axe Selling expense. |キ34,500 Ove ead. - ecs ease Cost of goods monofech,sed Repost CApril Ho(TK) Add: Rae naleial Poshases Less : Indkisect Maleuials. 28,90O 232 ,O 15,400 Disect Haleial beed 620 O 18 302S 25989 6 6,200 sect Dou 18,10O 벨 endr) c took in process love 23,91ales Revenue Cosef Geeds sola 5o3,oco iche 123,0o ood loven 2 63,250 Less Ending hedgoods Ivenlo 63,o80 ood So nOvey bead GRoss PROFIT--> dmioistkah ve xpence 33 26 51 kessSeltin Net Income HemOpeiahon 2L 72O I

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