12 Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 150% of direct labor cost. Problem 19-3A (Algo) Parts 4 and 5 Part 4 of 4 4. Prepare an income statement for the year and a balance sheet as of December 31. Hint: Retained earnings is $129,200 at the end of the current year. 2.5 points 5. Assume that the $2,400 on materials requisition 12 should have been direct materials charged to Job 404. Does this error result in overstatement or understatement of total assets? Skipped Complete this question by entering your answers in the tabs below. eBook Req 4 Income Req 4 Balance Statement Sheet Req 5 Print Prepare an income statement. BERGO BAY COMPANY References Income Statement For Year Ended December 31 $ Mc Graw of 1212 Required information Part 4 of 4 Req 4 Income Req 4 Balance Statement Sheet Reg 5 Prepare a balance sheet as of December 31. 2.5 points BERGO BAY COMPANY Skipped Balance Sheet As at December 31 Assets eBook + Inventories Print References 0 Total assets $ Liabilities Total liabilities Equity Total equity Total liabilities and equity $ Hill 3 JUN 1 3 . - atv A 210 Required information Part 2 of 4 Problem 19-3A (Algo) Computing and recording job costs; preparing income statement and balance sheet LO P1, P2, P3, P4 2.5 [The following information applies to the questions displayed below.] points Bergo Bay's accounting system generated the following account balances on December 31. The company's manager Skipped 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. Debit Credit Cash $ 79, 000 Accounts receivable 48, 000 eBook Raw materials inventory 29 , 000 Work in process inventory 0 Finished goods inventory 12, 000 Prepaid rent 4, 000 Print Accounts payable $ 11, 200 Notes payable 14, 200 Common stock 40, 000 Retained earnings (prior year) 85, 000 References Sales 188, 600 Cost of goods sold 104, 000 Factory overhead 24, 000 General and administrative expenses 39, 000 Totals $ 339, 000 $ 339, 000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: $ 5, 000 direct materials to Job 402 Materials requisition 11: $ 7,300 direct materials to Job 404 Materials requisition 12: $ 2, 400 indirect materials Labor time ticket 52: $ 7,000 direct labor to Job 402 Labor time ticket 53: $ 13, 000 direct labor to Job 404 Labor time ticket 54: $ 5, 000 indirect labor Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overnead rate is 150% of direct labor cost. Problem 19-3A (Algo) Part 2 2-a. In Factory Overhead T-account, enter amounts from part 1 related to factory overhead. Determine the amount of over- or McSaved Help Save & Exit S Check my wo 12 Materials requisition 10: $ 5, 000 direct materials to Job 402 Materials requisition 11: Materials requisition 12: $ 7,300 direct materials to Job 404 $ 2, 400 indirect materials Labor time ticket 52: $ 7,000 direct labor to Job 402 Labor time ticket 53: Part 4 of 4 $ 13, 000 direct labor to Job 404 Labor time ticket 54: $ 5,000 indirect labor Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 150% of direct labor cost. 2.5 points Skipped Problem 19-3A (Algo) Parts 4 and 5 4. Prepare an income statement for the year and a balance sheet as of December 31. Hint: Retained earnings is $129,200 at the end of the current year. eBook 5. Assume that the $2,400 on materials requisition 12 should have been direct materials charged to Job 404. Does this error result in overstatement or understatement of total assets? Print Complete this question by entering your answers in the tabs below. n References Req 4 Income Req 4 Balance Statement Sheet Req 5 Assume that the $2,400 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? Does this error result in overstatement or understatement of total assets Hill 7 3 JUN atv NA 2 3 E10 Check my wa Problem 19-3A (Algo) Part 2 Part 2 of 4 2-a. In Factory Overhead T-account, enter amounts from part 1 related to factory overhead. Determine the amount of over- or underapplied overhead. 2-b. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold. 2.5 points Complete this question by entering your answers in the tabs below. Skipped Req 2A Req 28 Book Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold. View transaction list Print Journal entry worksheet References 3 JUN 3 atv NA 52Materials requisition 10: $ 5, 000 direct materials to Job 402 Materials requisition 11: $ 7,300 direct materials to Job 404 Part 2 of 4 Materials requisition 12: $ 2, 400 indirect materials Labor time ticket 52: $ 7,000 direct labor to Job 402 Labor time ticket 53: $ 13, 000 direct labor to Job 404 Labor time ticket 54: $ 5,000 indirect labor 2.5 points Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 150% of direct labor cost. Skipped Problem 19-3A (Algo) Part 2 eBook 2-a. In Factory Overhead T-account, enter amounts from part 1 related to factory overhead. Determine the amount of over- or underapplied overhead. 2-b. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold. Print Complete this question by entering your answers in the tabs below. References Req 2A Req 2B In Factory Overhead T-account, enter amounts from part 1 related to factory overhead. Determine the amount of over- or underapplied overhead. Factory Overhead Actual overhead (given) Mc Graw 3 JUN tv 4