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[The following information applies to the questions displayed below] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $102,000 of
[The following information applies to the questions displayed below] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $102,000 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 Total materials used c. Time tickets show the following labor used for the month. Job 201 $ 41,200 Job 202 14,600 Total direct labor 55,800 26, 200 Indirect labor Total labor used $ 82,000 d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. Sold Job 201 for $169,760 on credit. g. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment $ 34,000 Rent on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs View transaction list
Note: Enter debits before credits. Journal entrv worksheet Note: Enter debits before credits. Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $102,000 of raw materials on credit b. Materiais reauisitions show the followina 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 of 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory: f. Sold Job 201 for $169.760 on credit. g. Incurred the following actual other overhead costs for the month. epare journal entries to record the transactions reflected in items a through g. Journal entry worksneet 12345 Record other actual factory overhead costs. Note: Enter debits before credits. Journal entry worksheet 1. 2) 34 Record the sale of job 201 on credit. Note: Enter debits before credits. Journal entry worksheet (1) 3 8910 Record overhead applied to jobs at the rate of 80% of direct materials cost. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet 3 Record direct labor used. Note: Enter debits before creditsStep by Step Solution
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