Information on Kwon Manufacturings activities for its first month of operations follows: Purchased $101,000 of raw materials on credit. Materials requisitions show the following materials used for the month. Job 201 $ 49,200 Job 202 24,600 Total direct materials 73,800 Indirect materials 9,620 Total materials used $ 83,420 Time tickets show the following labor used for the month. Job 201 $ 40,200 Job 202 13,600 Total direct labor 53,800 Indirect labor 25,200 Total labor used $ 79,000 Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. Transferred Job 201 to Finished Goods Inventory. (1) Sold Job 201 for $166,760 on credit. (2) Record cost of goods sold for Job 201. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment $ 33,000 Rent on factory building (payable) 600 Factory utilities (payable) 900 Expired factory insurance 4,000 Total other factory overhead costs $ 38,500 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.

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.