Select and Insert in 1 SQL Query

INSERT INTO Table2 (col1, col2)
SELECT col3, col4
FROM Table1

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How about a bit detailed example using the following sample database structure.

Table1
===========
Tbl1_ID (going to assume an auto increment here)
FK_Tbl2_ID
Data_Copy

Table2
===========
Tbl2_ID
Data

Query1: Select Tbl2_ID From Table2 Where Data = 1

For every returned record from query1 it should insert a record into Table1

INSERT INTO Table1 (FK_Tbl2_ID, Data_Copy)
SELECT Tbl2_ID, Data
FROM Table2
WHERE Data = 1

If anyone has seen/done any kind of performance testing on this sort of query would you kindly post them below.