1. Direct materials costs to Work in Process Inventory.
2. Direct labor costs to Work in Process Inventory.
3. Overhead costs to Work in Process Inventory.
4. Indirect materials costs to the Factory Overhead account.
5. Indirect labor costs to the Factory Overhead account.

Required: 1. Prepare journal entries to assign the above costs.

2.1 Determine the revised balance of the Factory Overhead account after making the entries in part 1 using T-accounts. Determine whether there is any under- or overapplied overhead for the year.

2.2 Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold, assuming the amount is not material. 3. Prepare a revised trial balance

4. Prepare an income statement for 2017 and a balance sheet as of December 31, 2017. .

[The following information applies to the questions displayed below.] Bergamo Bay's computer system generated the following trial balance on December 31, 2017 The company's manager knows something is wrong with the trial balance because it does not show any balance for Work In Process Inventory but does show a balance for the Factory Overhead account. In addition, the accrued factory payroll (Factory Payroll Payable, has not been recorded Credit Debit 67.888 45.ee 27,5ee 6,080 2,eee Cash Accounts receivable Raw materials Inventory Work in process inventory Finished goods Inventory Prepaid rent Accounts payable Notes payable Common stock Retained earnings Sales Cost of goods sold Factory Overhead Operating expenses Totals 11.500 14, see 2e.ee 91.ece 184,500 182.ee 27.000 45, eee 321, see $ 321,500 After examining various files, the manager identifies the following six source documents that need to be processed to bring the accounting records up to date. Materials requisition 21-3010: $ Materials requisition 21-3011: $ Materials requisition 21-3012: Labor tine ticket 6e52: $ Labor tine ticket 6e53: $ Labor tine ticket 6054: $ 4,700 direct materials to Job 402 7.200 direct materials to Job 404 2.100 indirect materials 5,eee direct labor to Job 402 8. eee direct labor to Job 404 3.ee Indirect labor Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 150% of direct labor cost [The following information applies to the questions displayed below.] Bergamo Bay's computer system generated the following trial balance on December 31, 2017 The company's manager knows something is wrong with the trial balance because it does not show any balance for Work In Process Inventory but does show a balance for the Factory Overhead account. In addition, the accrued factory payroll (Factory Payroll Payable, has not been recorded Credit Debit 67.888 45.ee 27,5ee 6,080 2,eee Cash Accounts receivable Raw materials Inventory Work in process inventory Finished goods Inventory Prepaid rent Accounts payable Notes payable Common stock Retained earnings Sales Cost of goods sold Factory Overhead Operating expenses Totals 11.500 14, see 2e.ee 91.ece 184,500 182.ee 27.000 45, eee 321, see $ 321,500 After examining various files, the manager identifies the following six source documents that need to be processed to bring the accounting records up to date. Materials requisition 21-3010: $ Materials requisition 21-3011: $ Materials requisition 21-3012: Labor tine ticket 6e52: $ Labor tine ticket 6e53: $ Labor tine ticket 6054: $ 4,700 direct materials to Job 402 7.200 direct materials to Job 404 2.100 indirect materials 5,eee direct labor to Job 402 8. eee direct labor to Job 404 3.ee Indirect labor Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 150% of direct labor cost