Information on Kwon Manufacturings activities for its first month of operations follows:

1. Purchased $101,700 of raw materials on credit.
2. Materials requisitions show the following materials used for the month.

Job 201	$ 49,900
Job 202	25,300
Total direct materials	75,200
Indirect materials	10,320
Total materials used	$ 85,520

3. Time tickets show the following labor used for the month.

Job 201	$ 40,900
Job 202	14,300
Total direct labor	55,200
Indirect labor	25,900
Total labor used	$ 81,100

4. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost.
5. Transferred Job 201 to Finished Goods Inventory.
6. (1) Sold Job 201 for $168,860 on credit. (2) Record cost of goods sold for Job 201.
7. Incurred the following actual other overhead costs for the month.

Depreciation of factory equipment	$ 33,700
Rent on factory building (payable)	670
Factory utilities (payable)	970
Expired factory insurance	4,700
Total other factory overhead costs	$ 40,040

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.

Required information (The following information applies to the questions displayed below. Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,700 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 $ 49,900 25,300 75,200 10,320 $ 85,520 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 40,900 14,300 55,200 25,900 $ 81,100 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 $168,860 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, 700 670 970 4,700 $ 40,040 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 $ 168,860 Sales Cost of goods sold Gross Profit