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Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,300 of raw materials on credit. b. Materials requisitions show the following materials used for the month. c. Time tickets show the following labor used for the month. d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. (1) Sold Job 201 for $167,660 on credit. (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. Exercise 15-7 (Algo) Recording materials, labor, overhead, and sales LOP1, P2, P3 Prepare journal entries to record the transactions reflected in items a through g. Journal entry worksheet 3 4 Note: Enter debits before credits. Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet