Use the following information to answer questions- (Algo) -The followi.docx

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Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101 , 300 of raw materials on credit. b. Materials requisitions show the following materials used for the month. c. Time tickets show the Jollowing labor used for the month. d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. e. Transferred Job 201 to Finished Goods inventory. f. (1) Sold Job 201 for $167 , 660 on credit. (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. Exercise 15 6 (Algo) 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. Complete this question by entering your answers in the tabs below. Compute gross profit on the sale of Job 201. .

Use the following information to answer questions. (Algo) [The following information applies to
the questions displayed below.] Information on Kwon Manufacturing's activities for its first
month of operations follows: a. Purchased $101 , 300 of raw materials on credit. b. Materials
requisitions show the following materials used for the month. c. Time tickets show the Jollowing
labor used for the month. d. Applied overhead to Job 201 and to Job 202 using a predetermined
overhead rate is 80% of direct materials cost. e. Transferred Job 201 to Finished Goods
inventory. f. (1) Sold Job 201 for $167 , 660 on credit. (2) Record cost of goods sold for Job 201.
g. Incurred the following actual other overhead costs for the month. Exercise 15 6 (Algo)
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. Complete this question
by entering your answers in the tabs below. Compute gross profit on the sale of Job 201.

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