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 ccrued factory payroll (Factory Wages Payable) has not been recorded. A revised list of account balances as of December 31. Hint: Use the prior year's Retained Earnings balance of $92,000 in this list.

dilu Le accrued IdLily payTull Factory vvayes rayabie Debit Credit Cash $ 71, 000 Accounts receivable 40, 000 Raw materials inventory 25, 000 Work in process inventory Finished goods inventory 15, 000 Prepaid rent 5, 000 Accounts payable $ 9, 900 Notes payable 12, 900 Common stock 50, 000 Retained earnings (prior year) 92, 000 Sales 171, 200 Cost of goods sold 116, 000 Factory overhead 27, 000 General and administrative expenses 37, 000 Totals $ 336, 000 $ 336, 000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: $ 4, 700 direct materials to Job 402 Materials requisition 11: $ 7,300 direct materials to Job 404 Materials requisition 12: $ 2, 100 indirect materials Labor time ticket 52: $ 8,000 direct labor to Job 402 Labor time ticket 53: $ 12, 000 direct labor to Job 404 Labor time ticket 54: $ 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. 3. Prepare a revised list of account balances as of December 31. Hint: Use the prior year's Retained Earnings balance of $92,000 in this list. BERGO BAY COMPANY List of Account Balances December 31 Debit Credit $ 71,000