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Required Information [The following Information applies to the questions displayed below] Information on Kwan Manufacturing's activities for Its first month of operations follows: a. Purchased $101,100 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 281 $ 40,308 Job 282 24,728 Total direct materials 74,808 Indirect materials 0,728 Total materials used 83, 728 c. Time tickets show the following labor used for the month. Job 281 $ 48,308 Job 282 13, 7138 Total direct labor Indirect labor 25, 308 Total labor used $ 79,309 . Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate : 303: of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. { () Sold Job 201 for $167.060 on credit. (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. Dopraclation of factory equipment $ 33,108 Rent on factory building [payable] 618 Factory utilities (payable] 918 Expired factory insurance Total other factory overhead costs $ 38, 728 Post entries for transactions s through g to the T-accounts. Each of T-accounts started the month with a zero balance. Raw Materials Inventory Work. In Proof co Inventory Beginning Balance Beginning Balance b . C. Ending balanon Factory Overhead Finished Goods Inventory Beginning Balance Beginning Balance Ending balanon Ending balance Coot of Goods Bold Beginning Balance Ending balance

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