$1.$ Use the document information above to prepare journal entries for the following costs.

a$.$ Direct Materials

b$.$ Direct Labor

c$.$ Overhead Applied

d$.$ Indirect Materials

e$.$ Indirect Labor

$2.$ Set up Factory Overhead T$-$account and enter amounts from part $1$ related to factory overhead. Determine the amount of over$-$or underapplied overhead. Prepare the entry to close any over or underapplied overhead Cost of Goods Sold

$3.$ Prepare a revised list of account balances as of December $31.$ Hint: Use the prior year's retained earnings balance of $$271,000$ in this list.

$4.$ Prepare an income statement for the year and a balance sheet as of December $31.$ Hint: retained earnings is $$356,800$ at the end of the current year.

$5.$ Assume that the $$5,600$ on materials requisition $12$ should have been direct materials charged to Job $404.$ Does this error result in overstatement or understatement of total assets on the balance sheet at December $31?$Bergo Bay's accounting system generated the following account balances on December $31.$ The company's manager knows something is

wrong with this list of balances because it does not show any balance for Work in Process Inventory, and the accrued factory payroll

$($Factory Wages Payable$)$ has not been recorded.

These six documents must be processed to bring the accounting records up to date.

Materials requisition $10$: $$10\mathrm{.}200$ direct materials to Job $402$

Materials requisition $11$:$$18\mathrm{.}600$ direct materials to Job $404$

Materials requisition $12$: $$5,600$ indirect materials

Labor time ticket $52$: $$36\mathrm{.}000$ direct labor to Job $402$

Labor time ticket $53$: $523,800$ direct labor to Job $404$

Labor time ticket $54$:$$8\mathrm{.}200$ indirect labor

Jobs $402$ and $404$ are the only jobs in process at yearend. The predetermined overhead rate is $200\%$ of direct labor cost.