Problem 15-3A (Algo) Computing and recording job costs; preparing income statement and balance sheet LO P1,...

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Problem 15-3A (Algo) Computing and recording job costs; preparing income statement and balance sheet LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] 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. 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 Debit $ 67,000 36,000 Credit 23,000 0 12,000 4,000 $ 11,100 14,100 40,000 75,000 177,800 104,000 27,000 45,000 $ 318,000 $ 318,000 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 54:1 $ 4,900 direct materials to Job 402 $ 7,100 direct materials to Job 404 $ 1,800 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 100% of direct labor cost. Problem 15-3A (Algo) Part 3 this list. Cash Accounts receivable Raw materials inventory BERGO BAY COMPANY List of Account Balances December 31 Work in process inventory Finished goods inventory Prepaid rent Accounts payable Factory wages payable Notes payable Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overhead General and administrative expenses Totals Debit Credit Problem 15-3A (Algo) Computing and recording job costs; preparing income statement and balance sheet LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] 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. 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 Debit $ 67,000 36,000 Credit 23,000 0 12,000 4,000 $ 11,100 14,100 40,000 75,000 177,800 104,000 27,000 45,000 $ 318,000 $ 318,000 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 54:1 $ 4,900 direct materials to Job 402 $ 7,100 direct materials to Job 404 $ 1,800 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 100% of direct labor cost. Problem 15-3A (Algo) Part 3 this list. Cash Accounts receivable Raw materials inventory BERGO BAY COMPANY List of Account Balances December 31 Work in process inventory Finished goods inventory Prepaid rent Accounts payable Factory wages payable Notes payable Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overhead General and administrative expenses Totals Debit Credit