Bergo Bay's accounting system generated the following account balances on December 31. The company's manager knows...

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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. Debit Credit Notes payable Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Common stock Retained earnings (prior year) Sales Cost of goods sold $ 72,000 41,000 25,500 12,000 4,000 $ 11,400 14,400 40,000 85,000 191,700 Factory overhead General and administrative expenses 114,000 24,000 50,000 Totals $ 342,500 $ 342,500 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: $ 5,000 direct materials to Job 402 $ 7,900 direct materials to Job 404 $ 2,200 indirect materials $ 7,000 direct labor to Job 402 $13,000 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. Cash Accounts receivable BERGO BAY COMPANY Balance Sheet As at December 31 Assets Inventories Work in process inventory $ 62,900 Finished goods inventory 12,000 Total assets 72,000 41,000 74,900 $ 187,900 Liabilities Accounts payable $ 11,400 Notes payable 14,400 Factory wages payable 25,000 Total liabilities Common stock Retained earnings Total equity 50,800 Equity 40,000 85,000 125,000 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. Debit Credit Notes payable Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Common stock Retained earnings (prior year) Sales Cost of goods sold $ 72,000 41,000 25,500 12,000 4,000 $ 11,400 14,400 40,000 85,000 191,700 Factory overhead General and administrative expenses 114,000 24,000 50,000 Totals $ 342,500 $ 342,500 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: $ 5,000 direct materials to Job 402 $ 7,900 direct materials to Job 404 $ 2,200 indirect materials $ 7,000 direct labor to Job 402 $13,000 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. Cash Accounts receivable BERGO BAY COMPANY Balance Sheet As at December 31 Assets Inventories Work in process inventory $ 62,900 Finished goods inventory 12,000 Total assets 72,000 41,000 74,900 $ 187,900 Liabilities Accounts payable $ 11,400 Notes payable 14,400 Factory wages payable 25,000 Total liabilities Common stock Retained earnings Total equity 50,800 Equity 40,000 85,000 125,000