Information on Kwon Manufacturing s activities for its first month of operations follows a Purchased 101 400 of raw materials on

Question

Information on Kwon Manufacturing s activities for its first month of operations follows a Purchased 101 400 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 49 600 25 000 74 600 10 020 84 620 c Time tickets show the following labor used for the month Job 201 40 600 Job 202 14 000 Total direct labor 54 600 Indirect labor 25 600 Total labor used 80 200 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 167 960 on credit g Incurred the following actual other overhead costs for the month Depreciation of factory equipment 33 400 Rent on factory building payable Factory utilities payable Expired factory insurance Total other factory overhead costs 640 940 4 400 39 380 Prepare journal entries to record the transactions reflected in items a through g

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