Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,100 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 $ 49,300 24,700 74,000 9,720 $ 83,720 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 40,300 13,700 54,000 25,300 $ 79,300 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 $167,060 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 $ 33,100 610 910 4,100 $ 38,720 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 Prepare a job cost sheet for Job 201 and for Job 202 for the month. Job Number Job Number Materials Labor Overhead Total cost 201 202 Required Required 2 > 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 Compute gross profit on the sale of Job 201. Job 201 Gross Profit Required 1 Required 2 Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,100 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 $ 49,300 24,700 74,000 9,720 Total materials used $ 83,720 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 40,300 13,700 54,000 25,300 $ 79,300 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. 1. (1) Sold Job 201 for $167,060 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 $ 33,100 610 910 4,100 $ 38,720 Post entries for transactions a through g to the T-accounts. Each of T-accounts started the month with a zero balance. Raw Materials Inventory Beginning Balance 0 Ending balance Work in Process Inventory Beginning Balance Ending balance Beginning Balance Factory Overhead 0 Finished Goods Inventory Beginning Balance 0 Ending balance Beginning Balance Ending balance Cost of Goods Sold Ending balance