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. Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Notes payable Common stock Retained earnings Sales Cost of goods sold Factory overhead Operating expenses Motals Debit $ 76,000 45,000 27,500 0 9,000 3,000 Materials requisition 21-3010: Materials requisition 21-3011: Ma erials requisition 21-3012: Labor time ticket 6052: Labor time ticket 6053: Labor time ticket 6054: 113,000 25,000 42,000 $340,500 Credit $ 10,100 13,100 30,000 80,000 207,300 $340,500 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. $ 4,000 direct materials to Job 402 $ 7,200 direct materials to Job 404 $ 2,200 indirect materials. $ 6,000 direct labor to Job 402 $14,000 direct labor to Job 404 $ 5,000 indirect labor Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 150% of direct labor cost. 4. Prepare an income statement for 2019 and a balance sheet as of December 31, 2019.

Bergamo Bay's computer system generated the following trial balance on December 31, 2019. The companys 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. 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. Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 150% of direct labor cost. 4. Prepare an income statement for 2019 and a balance sheet as of December 31,2019