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Chapter 2 Homework Part 2 A Saved 12 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: 107 points (a) Purchased materials on account at a cost of $231,770. (b) Requisitioned materials at a cost of $110,900, of which $15,800 was for general factory use. (c) Recorded factory labor of $225,200, of which $43,775 was indirect. (d) Incurred other costs: eBook Print Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $34,700 22,700 51,650 11,700 20,300 References (e) Applied overhead at a rate equal to 125 percent of direct labor cost. (f) Completed jobs costing $262,250. (g) Sold jobs costing $322,770. (h) Recorded sales revenue of $505,000. 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.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3a Reg 3b Reg 4 Reg 5 12 TUULLIT LUITJULLIVIIJ LUCI I ULOUILD UITU LIPUL LIT Wurun LIT ULOUILJ ULLII CU VIR VOLVO LJUULUULUUL JUILLET Round your answers to 2 decimal places.) Raw Materials Inventory 28,900.00 Work in Process Inventory 18,600.00 Beg. Bal Beg. Bal. 1.07 points End. Bal. 28,900.00 eBook End. Bal. 18,600.00 Print Manufacturing Overhead Finished Goods Inventory 124,900.00 Beg. Bal. Beg. Bal. References 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 Nonmanufacturing Expenses Beg. Bal. End. Bal. 0.00 IMc Chapter 2 Homework Part 2 A Saved 12 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: 107 points (a) Purchased materials on account at a cost of $231,770. (b) Requisitioned materials at a cost of $110,900, of which $15,800 was for general factory use. (c) Recorded factory labor of $225,200, of which $43,775 was indirect. (d) Incurred other costs: eBook Print Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $34,700 22,700 51,650 11,700 20,300 References (e) Applied overhead at a rate equal to 125 percent of direct labor cost. (f) Completed jobs costing $262,250. (g) Sold jobs costing $322,770. (h) Recorded sales revenue of $505,000. 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.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3a Reg 3b Reg 4 Reg 5 12 TUULLIT LUITJULLIVIIJ LUCI I ULOUILD UITU LIPUL LIT Wurun LIT ULOUILJ ULLII CU VIR VOLVO LJUULUULUUL JUILLET Round your answers to 2 decimal places.) Raw Materials Inventory 28,900.00 Work in Process Inventory 18,600.00 Beg. Bal Beg. Bal. 1.07 points End. Bal. 28,900.00 eBook End. Bal. 18,600.00 Print Manufacturing Overhead Finished Goods Inventory 124,900.00 Beg. Bal. Beg. Bal. References 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 Nonmanufacturing Expenses Beg. Bal. End. Bal. 0.00 IMc

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