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Bergo Bay's accounting system generated the following account balances on December 3 1 . The company s manager knows something is wrong with this list
Bergo Bay's accounting system generated the following account balances on December The companys 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.December tableCashDebitAccounts receivable,Raw materials inventory,Work in process inventory,Finished goods inventory,Prepaid rent,Accounts payable,Factory wages payable,Notes payable,Common stock,Retained earnings prior yearSalesCost of goods sold,Factory overhead,General and administrative expenses,Totals Debit Credit 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 Factory overhead General and administrative expenses Totals $ $ These six documents must be processed to bring the accounting records up to date. Materials requisition : $ direct materials to Job Materials requisition : $ direct materials to Job Materials requisition : $ indirect materials Labor time ticket : $ direct labor to Job Labor time ticket : $ direct labor to Job Labor time ticket : $ indirect labor Jobs and are the only jobs in process at yearend. The predetermined overhead rate is of direct labor cost.
Bergo Bay's accounting system generated the following account balances on December The companys 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.December
tableCashDebitAccounts receivable,Raw materials inventory,Work in process inventory,Finished goods inventory,Prepaid rent,Accounts payable,Factory wages payable,Notes payable,Common stock,Retained earnings prior yearSalesCost of goods sold,Factory overhead,General and administrative expenses,Totals
Debit Credit
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
Factory overhead
General and administrative expenses
Totals $ $
These six documents must be processed to bring the accounting records up to date.
Materials requisition : $ direct materials to Job
Materials requisition : $ direct materials to Job
Materials requisition : $ indirect materials
Labor time ticket : $ direct labor to Job
Labor time ticket : $ direct labor to Job
Labor time ticket : $ indirect labor
Jobs and are the only jobs in process at yearend. The predetermined overhead rate is of direct labor cost.
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