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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
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 $101.200 of raw materials on credit b. Materials requisitions show the following materials used for the month Job 201 Job 202 Total dizect aterials Indirect materials Total materials used $ 49,400 24,00 74,200 9,620 $ 34,020 c. Time tickets show the following labor used for the month. Job 201 Jah 202 Total direct labor Indirect labor Total laber wed $ 40,400 13, BDO 54,20 25,400 $ 79,600 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 L (1) Sold Job 201 for $167,360 on credit. (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. $ 33,00 Depreciation of tactory equipment Runt o factory building (payable) Factory utilities (payable) Expired tactory in urance Total other factory overhead coats 920 4,200 $ 38,94 Prepare journal entries to record the transactions reflected in terms a through g View transactions Journal entry worksheet Record materials purchases. Note: Enter debit before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
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