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Information on Kwon Manufacturings activities for its first month of operations follows:

1. Purchased $101,100 of raw materials on credit.
2. Materials requisitions show the following materials used for the month.

Job 201	$ 49,300
Job 202	24,700
Total direct materials	74,000
Indirect materials	9,720
Total materials used	$ 83,720

Time tickets show the following labor used for the month.

Job 201	$ 40,300
Job 202	13,700
Total direct labor	54,000
Indirect labor	25,300
Total labor used	$ 79,300

4. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost.
5. Transferred Job 201 to Finished Goods Inventory.
6. (1) Sold Job 201 for $167,060 on credit. (2) Record cost of goods sold for Job 201.
7. Incurred the following actual other overhead costs for the month.

Depreciation of factory equipment	$ 33,100
Rent on factory building (payable)	610
Factory utilities (payable)	910
Expired factory insurance	4,100
Total other factory overhead costs	$ 38,720

Prepare journal entries to record the transactions reflected in items a through g. a) Record material purchases b) Record direct materials used c) Record indirect material used d) Record direct labor used. e) Record indirect labor used. f) Record overhead applied to jobs at the rate of 80% of direct materials cost. g) Record the completion of job 201. h) Record the sale of job 201 on credit. i) Record the cost of goods sold for job 201. j) Record other actual factory overhead costs.

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