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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
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 Accounts receivable Cash Raw materials inventory. $170,000 75,000 80,000 Work in process inventory 0 Finished goods inventory 15,000 Prepaid rent 3,000 Accounts payable $ 17,000 Notes payable 25,000 Common stock 50,000 Retained earnings 271,000 Sales 373,000 Cost of goods sold 218,000 Factory overhead Operating expenses Totals 115,000 60,000 $736,000 $736,000 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. Materials requisition 21-3010: Materials requisition 21-30111 Materials requisition 21-30121 Labor time ticket 6052: Labor time ticket 6053: Labor tine ticket 60541 $10,200 direct materials to Job 402 $18,600 direct materials to Job 404 $ 5,600 indirect materials $36,000 direct labor to Job 402 $23,800 direct labor to Job 404 $ 8,200 indirect labor
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