2.000 Problem 19-2A Source documents, journal entries, overhead, and financial reports P1 P2 P3 PO Bergamo Bay's computer system generated the following trial balance on December 31, 2019. The company's manager knows something is wrong with the trial balance because it does not show any balance for Work in Process Inventory but does show a balance for the Factory Overhead account. In addition, the accrued factory payroll (Factory Wages Payable) has not been recorded. Debit Credit Cash $170,000 Accounts receive 75,000 Raw was inventory 80,000 Work in processor 0 Fred goods Inventory 15,000 Prepaidrot $ 17,000 Nepal 25,000 Common stock 50,000 Bundang 271.000 373,000 Cost of goods sold 218.000 Factory overhead 115.000 Operating expenses 50,000 Total $735000 $235.000 After examining various files, the manager identifies the following six source documents that need to be processed to bring the accounting records up to date. Page 716 Motorroguistio 213010 510.200 direct to Job 402 Laboriechet 6062 $36.000 de Materials requisition 21.3011518.600 direct to lo ticket 6053 $23.800 de liberto 404 Materials requisition 21-3012. 55.600 indirecte Laber ticket 6054 58200 indeactor Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 200% of direct labor cost. Required 1. Use information on the six source documents to preparo journal entries to assign the following costs. a. Direct materials costs to Work in Process Inventory Intel Aa 10 715 6 Safari File Edit View History Bookmarks Window Help $ 47% D Wed 7:49 PM ereader chegg.com 3 B A Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 200% of direct labor cost, Required 1. Une information on the six source documents to prepare journal entries to assign the following costs a. Direct materials costs to Work in Process Inventory b. Direct labor costs to Work in Process Inventory c. Overhead costs to Work in Process Inventory d. Indirect materials costs to the Factory Overhead account e. Indirect labor costs to the Factory Overhead account 2 Determine the revised balance of the Factory Overhead account after making the entries in part I. Determine whether there is any under or overapplied overhead for the year. Prepare the adjusting entry to allocate any over- of underapplied overhead to Cost of Goods Sold, assuming the amount is not material Check (2 9.200 underapplied overed 3. Prepare a revised trial balance. T.B. total, $804,000 4. Prepare an income statement for 2019 and a balance sheet as of December 31, 2019, (4) Net income, 585,000