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. Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable. Notes payable Common stock Retained earnings (prior year) Sales Cost of goods sold. Debit $ 78,000 47,000 28,500 Credit 0 12,000 4,000 $ 8,500 11,500 40,000 93,000 198,500 Factory overhead General and administrative expenses 119,000 27,000 36,000 Totals $ 351,500 $ 351,500 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $ 4,500 direct materials to Job 402 $ 7,500 direct materials to Job 404 $ 1,500 indirect materials $ 5,000 direct labor to Job 402 $ 15,000 direct labor to Job 404. $ 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-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 art 2 of 4 37 Ints eBook Materials requisition 101 Materials requisition 11: Materials requisition 12: Labor tine ticket 521 Labor time ticket 53: Labor time ticket 541- . $ 4,500 direct materials to Job 402 $ 7,500 direct materials to Job 404 $ 1,500 indirect materials $ 5,000 direct labor to Job 402 $ 15,000 direct labor to Job 404 $ 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-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. Complete this question by entering your answers in the tabs below. Print Req 2A Req 28: eferences In Factory Overhead T-account, enter amounts from part 1 related to factory overhead Determine the amount of over- or underapplied overhead. Actual overhead (given) Factory Overhead Req 2A Req 2B Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet 1 Record the entry to allocate any overapplied or underapplied overhead. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal