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Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,800 of raw materials on credit. b. Materials requisitions show the
Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,800 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 $ 50,000 Job 202 25,400 Total direct materials 75,400 Indirect materials 10,420 Total materials used $ 35.329 c. Time tickets show the following labor used for the month. Job 201 $ 41,000 Job 202 14,400 Total direct labor 55,400 Indirect labor 26,000 Total labor used $ 31.4% d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct mat: e. Transferred Job 201 to Finished Goods Inventory. f. (1) Sold Job 201 for $169,160 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 $ 33,800 Rent on factory building {payable} 680 Factory utilities (payable) 980 Expired factory insurance 4.3% Total other factory overhead costs $ 43.253 Prepare ajob cost sheet for Job 201 and for Job 202 for the month. . Compute gross profit on the sale of Job 201. Compiete this question by entering your answers in the tabs below. Requued 1 | Requhed 2 Required 1 Required 2 Prepare a job cost sheet far Job 201 and far Job 202 for I Required 1 Compute gross prot on the sale of Job 201. Gross Prot =
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