Requirea 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 $101,600 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 $ 49,800 25, 200 75,000 10,220 Total materials used $ 85,220 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 40,800 14,200 55,000 25,800 $ 80,800 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 $168,560 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 $ 33,600 660 960 4,600 $ 39,820 Total other factory overhead costs $ 39,820 Prepare journal entries to record the transactions reflected in items a through g. View transaction list Journal entry worksheet < 2 3 4 5 Record materials purchases. 9 7 8 6 10 > Note: Enter debits before credits. Transaction General Journal Debit Credit a. Journal entry worksheet 1 2 3 4 5 6 7 8 9 on Record direct materials used. Note: Enter debits before credits. Transaction b(1) 10 General Journal Debit Credit ournal entry worksheet 1 2 3 4 Record indirect materials used. Note: Enter debits before credits. Transaction b(2) LO 5 6 7 8 00 9 10 > General Journal Debit Credit 2 3 4 5 6 7 8 9 ON d direct labor used. nter debits before credits. action (1) 10 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 > Record indirect labor used. Note: Enter debits before credits. Transaction c(2) General Journal Debit Credit Record entry lear entry View general journal of 17 Next rnal entry worksheet 1 2 4 5 6 7 8 9 10 cord overhead applied to jobs at the rate of 80% of direct materials cost. Enter debits before credits, nsaction P General Journal Debit Credit ournal entry worksheet 1 3 4 Record the completion of Job 201. Jote: Enter debits before credits. Transaction LO 5 6 7 8 9 10 General Journal Debit Credit + A Journal entry worksheet < 1 2 3 4 Record the sale of job 201 on credit. Note: Enter debits before credits. Transaction f(1). 5 9 9 10 10 General Journal Debit Credit > 5 6 7 8 10 Journal entry worksheet 0 2 00 10 Record the cost of goods sold for Job 201. Note: Enter debits before credits. Transaction f(2). General Journal Debit Credit View general journal Journal entry worksheet < 1 2 3 5 6 7 Record other actual factory overhead costs. Note: Enter debits before credits. Transaction g 8 19 General Journal Debit Credit < Prev Next