Lamonda Corp. uses a job order cost system. On April 1, the accounts had the following balances: Raw Materials Inventory $ 25,000 Work in Process Inventory 55,000 Finished Goods Inventory 60,000 The following transactions occurred during April: (a) Purchased materials on account at a cost of $136,000. (b) Requisitioned materials at a cost of $122,000, of which $28,000 was for general factory use. (c) Recorded factory labor of $155,000, of which $24,000 was indirect. (d) Incurred other costs: (Hint: Use Miscellaneous Accounts for the total of all costs incurred). Selling expense $ 44,000 Factory utilities 26,000 Administrative expenses 15,000 Factory rent 30,000 Factory depreciation 24,000 (e) Applied overhead at a rate equal to 135 percent of direct labor cost. (f) Completed jobs costing $375,000. (g) Sold jobs costing $402,000. (h) Recorded sales revenue of $500,000.

To record purchase of Material

Dr.Raw Material Inventory$136,000  

Cr.Account Payable         $136,000  

To record Work in process Inventory  

Dr.Work in process Inventory$94,000  

Dr.Manufacturing Overhead$28,000  

Cr.Raw Material Inventory         $122,000  

To record wages payable

Dr.Work in process Inventory$131,000  

Dr.Manufacturing Overhead$24,000  

Cr.Wages Payable                 $155,000  

To record the cost

Dr.Selling and distribution Expenses$59,000  

Dr.Manufacturing Overhead                 $80,000  

Cr.Miscellaneous Expenses                 $139,000  

To record manufacturing overhead

Dr.Work in process Inventory$176,850  

Cr.Manufacturing Overhead$176,850  

To record Finished goods inventory

Dr.Finished goods inventory$375,000  

Cr.Work in process Inventory$375,000  

To record cost of goods Sold

Dr.Cost of Goods Sold         $402,000  

Cr.Finished goods inventory$402,000  

To record Sales revenue

Dr.Accounts Receivables$500,000  

Cr.Sales                         $500,000  

Explanation:

All the entries are recorded as per their events.

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explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.