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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.
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.
Direct materials.
Direct labor.
Overhead applied.
Indirect materials.
Indirect labor.
Required:
Use the document information above to prepare journal entries for the above costs.
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