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 $233, 270. (b) Requisitioned materials at a cost of S 111,500, of which $16, 500 was for general factory use. (c) Recorded factory labor of $ 224, 900, of which $42, 675 was indirect. (d) Incurred other costs: Selling expense $ 35, 900 Factory utilities 23,600 Administrative expenses 51,350 Factory rent 11, 200 Factory depreciation 19, 100 (e) Applied overhead at a rate equal to 129 percent of direct labor cost. Completed jobs costing $262, 750. (g) Sold jobs costing $324, 170. (h) Recorded sales revenue of $506, 000. Required: 1. & 2. Post the April transactions to the T - accounts and

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 $233, 270. (b) Requisitioned materials at a cost of S 111,500, of which $16, 500 was for general factory use. (c) Recorded factory labor of $ 224, 900, of which $42, 675 was indirect. (d) Incurred other costs: Selling expense $ 35, 900 Factory utilities 23,600 Administrative expenses 51,350 Factory rent 11, 200 Factory depreciation 19, 100 (e) Applied overhead at a rate equal to 129 percent of direct labor cost. Completed jobs costing $262, 750. (g) Sold jobs costing $324, 170. (h) Recorded sales revenue of $506, 000. Required: 1. & 2. Post the April transactions to the T - accounts and

Name: Req 1 and 2Req 3aCost of Goods SoldReq 3bPrepare Lamonda's April inco
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Description: Req 1 and 2Req 3aCost of Goods SoldReq 3bPrepare Lamonda's April income statement. Include any adjustment to Cost of Goods Sold needed to dispose of over- orunderapplied manufacturing overhead. (Round your answers to 2 decimal places.)Unadjusted Cos

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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