Information on Kwon Manufacturing’s activities for its first month…

Question Answered step-by-step Information on Kwon Manufacturing’s activities for its first month… Information on Kwon Manufacturing’s activities for its first month of operations follows: Purchased $100,800 of raw materials on credit.Materials requisitions show the following materials used for the month.Job 201$ 49,000Job 20224,400Total direct materials73,400Indirect materials9,420Total materials used$ 82,820 Time tickets show the following labor used for the month.Job 201$ 40,000Job 20213,400Total direct labor53,400Indirect labor25,000Total labor used$ 78,400 Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost.Transferred Job 201 to Finished Goods Inventory.(1) Sold Job 201 for $166,160 on credit. (2) Record cost of goods sold for Job 201.Incurred the following actual other overhead costs for the month. Depreciation of factory equipment$ 32,800Rent on factory building (payable)580Factory utilities (payable)880Expired factory insurance3,800Total other factory overhead costs$ 38,060 Accounting Business Managerial Accounting ACCT 212 212 Share QuestionEmailCopy link Comments (0)