P$2.$ Coyote Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. $($unit $=$ $$)$

Materials purchased on account $$220,000,$ and factory wages incurred $$90,000.$

Materials requisitioned and factory labor used by job:

$\backslash$table$[[$Job Number,Materials,Factory Labor$],[$A$20,40,000,20,000],[$A$21,50,000,15,000],[$A$22,38,000,17,000],[$A$23,37,000,30,000],[$General factory use,$5,000,-],[$Total$,170,000,90,000]]$

Insurance expense incurred for the manufacturing plant $$60,000.$

Depreciation on factory equipment $$20,000.$

Depreciation on the company's office building was $$16,000.$

Manufacturing overhead rate is $60\%$ of direct material cost.

Jobs completed during the quarter: A$20,$ A$21,$ and A$22.$

Products manufactured from jobs A$20$ and A$22$ were sold for $$120,000$ and $$110,000,$ respectively, on account.

Instructions:

Prepare journal entries to record the operations summarized above.

Compute costs of goods manufactured from job A$20.$

Compute costs of goods manufactured from job A$22.$

Prepare gross profit section of income statement.