Required information (The following information applies to the questions displayed below.) Information on Kwon Manufacturing's activities for its first month of operations follows: 1 Record materials purchases. 2 Record direct materials used. a. Purchased $100.500 of raw materials on credit. b. Materials requisitions show the following materials used for the month. 3 Record indirect materials used. 4 Record direct labor used. 5 Record indirect labor used. Job 201 Job 202 Total direct materials Indirect materials Total materials used $ 48, 700 24,100 72,800 9,120 $ 81,920 6 Record overhead applied to jobs at the rate of 80% of direct materials cost. 7 c. Time tickets show the following labor used for the month. Record the completion of Job 201. 8 Record the sale of job 201 on credit. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 39,700 13,100 52,800 24,700 $ 77,500 9 Record the cost of goods sold for Job 201. 10 Record other actual factory overhead costs. 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 $165,260 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 $ 32,500 550 850 3,500 $ 37,400 Prepare journal entries to record the transactions reflected in items a through g