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 $100,300 of raw materials on credit. b. Materials requisitions show the following materials used for the month. c. Time tickets show the following labor used for the month. 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 $164,660 on credit. (2) Record cost of goods sold for Job 201 . g. Incurred the following actual other averhead costs for the month. Exercise 15-7 (Algo) Recording materials, labor, overhead, and sales LO P1, P2, P3 Prepare joumal entries to record the transactions reflected in items a through g. 1 Record materials purchases. 2 Record direct materials used. 3 Record indirect materials used. 4 Record direct labor used. 5 Record indirect labor used. 6 Record overhead applied to jobs at the rate of 80% of direct materials cost. 7 Record the completion of Job 201. Note : = journal entry has been entered Required information 4 Record direct labor used. 5 Record indirect labor used. 6 Record overhead applied to jobs at the rate of 80% of direct materials cost. 7 Record the completion of Job 201. 8 Record the sale of job 201 on credit. 9 Record the cost of goods sold for Job 201. 10 Record other actual factory overhead costs. Note : = journal entry has been entered