For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. Example: =B3+C3 Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased raw materials on credit. $100,000 b. Materials requisitions show the following materials used for the month. \begin{tabular}{l|r} \hline Job 201 & $48,200 \\ \hline Job 202 & 23,600 \\ \cline { 2 - 2 } Total direct materials & 71,800 \\ \hline Indirect materials & 8,620 \\ \hline Total materials used & $80,420 \\ \hline \end{tabular} c. Time tickets show the following labor used for the month. \begin{tabular}{lr} Job 201 & $39,200 \\ \hline Job 202 & 12,600 \\ \hline Total direct labor & 51,800 \\ \hline Indirect labor & 24,200 \\ \hline Total labor used & $76,000 \\ \hline \end{tabular} d. Applied overhead to jobs using the predetermined overhead rate 80% of direct materials cost e. Transferred Job 201 to Finished Goods Inventory. f. (1) Sold Job 201 on credit for: $163,760 (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. \begin{tabular}{|l|r|} \hline Depreciation of factory equipment & $32,000 \\ \hline Rent on factory building (payable) & 500 \\ \hline Factory utilities (payable) & 800 \\ \hline Expired factory insurance & 3,000 \\ \hline Total other factory overhead costs & $36,300 \\ \hline \hline \end{tabular} Required: 1. Prepare a job cost sheet for Job 201 and for Job 202 for the month. (Use cells A4 to F30 from the given information to complete this question.) \begin{tabular}{lll|} \hline & Number Job Number \\ \hline Materials \\ Labor & 201 & 202 \\ Overhead \\ Total cost \\ \hline \end{tabular} 2. Compute gross profit on the sale of Job 201. (Use cells A4 to F30 from the given information to complete this question.)