Reference no: EM132212246
Question: 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 $232,370.
(b) Requisitioned materials at a cost of $111,400, of which $15,800 was for general factory use.
(c) Recorded factory labor of $224,300, of which $42,875 was indirect.
(d) Incurred other costs:
| Selling expense |
$34,900 |
| Factory utilities |
24,000 |
| Administrative expenses |
51,650 |
| Factory rent |
11,100 |
| Factory depreciation |
19,600 |
(e) Applied overhead at a rate equal to 139 percent of direct labor cost.
(f) Completed jobs costing $262,550.
(g) Sold jobs costing $322,870.
(h) Recorded sales revenue of $504,000.
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.)