Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below: The

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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 1 (37.74 KiB) Viewed 10 times

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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 7 (33.46 KiB) Viewed 10 times

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 $232,270. (b) Requisitioned materials at a cost of $111,600, of which $16,700 was for general factory use. (c) Recorded factory labor of $225,300, of which $42,475 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $35,600 24,100 50, 350 11,800 19,700 (e) Applied overhead at a rate equal to 142 percent of direct labor cost. (1) Completed jobs costing $263,250. (g) Sold jobs costing $323,870. (h) Recorded sales revenue of $512,000. 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.)

www 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.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Req Ja 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.) Beg. Bal End. Bal Req 3b Raw Materials Inventory 29,400.00 Req 4 Req 5 Beg Bal End Bal Work in Process Inventory 19,300.00

k - aces Beg. Bal. End. Bal. Bog. Bal. End. Bal. Beg. Bal End. Bal. Finished Goods Inventory 124,200.00 Cost of Goods Sold Nonmanufacturing Expenses Beg. Bal End. Bal. Bog. Bal. End. Bal Manufacturing Overhead Sales Revenue

Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3a (Round your answers to 2 decimal places.) Req 3b Req 4 Req 5 Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Manufacturing Overhead < Req 1 and 2 Req 3b >

Req 1 and 2 Reg 3a 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 3b Req 4 < Req 3a Req 5 Req 4 > m Next >

ints Skipped eBook Print References Req 1 and 2 Req 3a Direct Materials Used Total Current Manufacturing Costs Req 3b 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 Cost of Goods Manufactured Req 4 Req 5 < Req 3b Req 5 >

ed < ces Req 1 and 2 Req 3a Cost of Goods Sold Req 3b 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.) Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Req 4 LAMONDA CORP. Income Statement For the Month of April Net Income (Loss) from Operations Req 5 <Reg 4 Reg 5 >