Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,500 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 Total direct materials. Indirect materials Total materials used $ 49,700 25,100 74,800 10,120 $ 84,920 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 40,700 14,100 54,800 25,700 $ 80,500 R 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 $168,260 on credit. (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. art 1 of 3 ints Skipped eBook 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 $168,260 on credit. (2) Record cost of goods sold for Job 201 g. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment Rent on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs $ 33,500 650 950 4,500 $39,600 Prot Exercise 15-6 (Algo) Computing job costs and gross profit LO P1, P2, P3 1. Prepare a job cost sheet for Job 201 and for Job 202 for the month. 2. Compute gross profit on the sale of Job 201 Complete this question by entering your answers in the tabs below. Required 1 Required 2 ipped Ds below. Required Required 2 Prepare a job cost sheet for Job 201 and for Job 202 for the month. Job Number Job Number Book Print Materials 201 202 Labor Overhead Total cost $ 0 $ 0 Required 1 Required 2 > Required 1 Required 2 Compute gross profit on the sale of Job 201. Job 201 Gross Profit < Required 1 1 Exercise 15-7 (Algo) Recording materials, labor, overhead, and sales LO P1, P2, P3 Prepare journal entries to record the transactions reflected in items a through g. View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 Record materials purchases. Note: Enter debits before credits. Transaction General Journal Debit Credit