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

Purchased $100,000 of raw materials on credit.

Materials requisitions show the following materials used for the month.

Job 201	$ 48,200
Job 202	23,600
Total direct materials	71,800
Indirect materials	8,620
Total materials used	$ 80,420

Time tickets show the following labor used for the month.

Job 201	$ 39,200
Job 202	12,600
Total direct labor	51,800
Indirect labor	24,200
Total labor used	$ 76,000

Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost.

Transferred Job 201 to Finished Goods Inventory.

Sold Job 201 for $163,760 on credit.

Incurred the following actual other overhead costs for the month.

Depreciation of factory equipment	$ 32,000
Rent on factory building (payable)	500
Factory utilities (payable)	800
Expired factory insurance	3,000
Total other factory overhead costs	$ 36,300

Compute gross profit on the sale of Job 201.