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Information on Kwon Manufacturing s activities for its first month of operations follows: Purchased $ 1 0 0 , 5 0 0 of raw materials

Information on Kwon Manufacturings activities for its first month of operations follows:
Purchased $100,500 of raw materials on credit.
Materials requisitions show the following materials used for the month.
Job 201 $ 48,700
Job 20224,100
Total direct materials 72,800
Indirect materials 9,120
Total materials used $ 81,920
Time tickets show the following labor used for the month.
Job 201 $ 39,700
Job 20213,100
Total direct labor 52,800
Indirect labor 24,700
Total labor used $ 77,500
Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost.
Transferred Job 201 to Finished Goods Inventory.
Sold Job 201 for $165,260 on credit.
Incurred the following actual other overhead costs for the month.
Depreciation of factory equipment $ 32,500
Rent on factory building (payable)550
Factory utilities (payable)850
Expired factory insurance 3,500
Total other factory overhead costs $ 37,400
Prepare a job cost sheet for Job 201 and for Job 202 for the month.
Compute gross profit on the sale of Job 201.

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