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 (44.36 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 2 (33.77 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 following transactions occurred during April: (a) Purchased materials on account at a cost of $232,270. (b) Requisitioned materials at a cost of $111,400, of which $15,300 was for general factory use. (c) Recorded factory labor of $225,300, of which $42,775 was indirect. (d) incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $34,400 23,500 51, 750 11, 700 20,600 (e) Applied overhead at a rate equal to 137 percent of direct labor cost. (1) Completed jobs costing $261,950. (g) Sold jobs costing $323,270. (h) Recorded sales revenue of $502,000. 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 Prev 1 of 3 Next >

ces 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.) Complete this question by entering your answers in the tabs below. Reg 3b 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.) Raw Materials Inventory Req 12 Heq 3a Req4 Regs Work in Process Inventory

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 Beg. Bal End Bal Raw Materials Inventory 29,400.00 Finished Goods Inventory 123,400 00 Beg Bal End. Bal. Beg Bal End. Bal Work in Process Inventory 19,300.00 Manufacturing Overhead

eBook Print ferences Beg Bat End. Bal. Beg. Bal End Bal Cost of Goods Sold Nonmanufacturing Expenses End Bal. Beg Bal End Bal Reg 1 wat? Sales Revenue Req Ja >

Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3a 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 >

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 3a If the balance in the Manufacturing Overhead or decrease? Req 3b OIncrease ODecrease Req 4 Req 5 account is closed directly to Cost of Goods Sold, will Cost of Goods Sold increase < Req Ja Req 4 >

ts eBook Print ferences 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 Direct Materials Used Total Current Manufacturing Costs Cost of Goods Manufactured < Req 3b Req 5 >

es Cost of Goods Sold LAMONDA CORP. Income Statement For the Month of April Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Net Income (Loss) from Operations < Req 4 Sy