S Use the following information to answer questions. (Static) [The following information applies to the questions...

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S Use the following information to answer questions. (Static) [The following information applies to the questions displayed below.] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $100,000 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 $ 48,200 23,600 71,800 8,620 $ 80,420 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 39,200 12,600 51,800 24,200 $ 76,000 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 $163,760 on credit. g. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment Rent on factory building (payable) Factory utilities (payable) $ 32,000 500 800 Expired factory insurance 3,000 Total other factory overhead costs $ 36,300 Exercise 15-6 (Static) Computing job costs and gross profit LO P1, P2, P3 1. Prepare a job cost sheet for Job 201 and for Job 202 for the month. 2. Compute gross profit on the sale of Job 201. S Use the following information to answer questions. (Static) [The following information applies to the questions displayed below.] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $100,000 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 $ 48,200 23,600 71,800 8,620 $ 80,420 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 39,200 12,600 51,800 24,200 $ 76,000 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 $163,760 on credit. g. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment Rent on factory building (payable) Factory utilities (payable) $ 32,000 500 800 Expired factory insurance 3,000 Total other factory overhead costs $ 36,300 Exercise 15-6 (Static) Computing job costs and gross profit LO P1, P2, P3 1. Prepare a job cost sheet for Job 201 and for Job 202 for the month. 2. Compute gross profit on the sale of Job 201.