Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $100,100 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 $ 48,300 23,700 72,000 8,720 Total materials used $ 80,720 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor $ 39,300 12,700 52,000 24,300 Total labor used $ 76,300 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 $164,060 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 $ 32,100 510 810 3,100 Total other factory overhead costs $ 36,520 Exercise 15-8 (Algo) T-accounts for manufacturing activities LO P1, P2, P3 Post entries for transactions a through g to the T-accounts. Each of T-accounts started the month with a zero balance. 126,240 e Raw Materials Inventory Work in Process Inventory Beginning Balance 0 Beginning Balance 0 a 100,100 72,000 b. b. 72,000 8,720 b. 52,000 d. Ending balance 19,380 Ending balance 2,240 Beginning Balance Factory Overhead 0 Beginning Balance Ending balance Beginning Balance 0 Cost of Goods Sold 0 Ending balance 0 Finished Goods Inventory 0 Ending balance 0