Use the following information to answer questions. $($Algo$)$

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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:

Purchased $$101,600$ of raw materials on credit.

Materials requisitions show the following materials used for the month.

Job $201$ $ $49,800$

Job $20225,200$

Total direct materials $75,000$

Indirect materials $10,220$

Total materials used $ $85,220$

Time tickets show the following labor used for the month.

Job $201$ $ $40,800$

Job $20214,200$

Total direct labor $55,000$

Indirect labor $25,800$

Total labor used $ $80,800$

Applied overhead to Job $201$ and to Job $202$ using a predetermined overhead rate of $80\%$ of direct materials cost.

Transferred Job $201$ to Finished Goods Inventory.

Sold Job $201$ for $$168,560$ on credit.

Incurred the following actual other overhead costs for the month.

Depreciation of factory equipment $ $33,600$

Rent on factory building $($payable$)660$

Factory utilities $($payable$)960$

Expired factory insurance $4,600$

Total other factory overhead costs $ $39,820$

Exercise $2-7($Algo$)$ Recording materials, labor, overhead, and sales LO P$1,$ P$2,$ P$3$

Prepare journal entries to record the transactions reflected in items a through g$.$