Required information Problem 2-3A (Static) 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 Debit $170,000 Credit 75,000 50,000 15,000 Prepaid rent 3,000 Accounts payable $17,000 Notes payable 25,000 Common stock 50,000 Retained earnings (prior year) 271,000 Sales 373,000 Cost of goods sold 218,000 Factory overhead 115,000 General and administrative expenses 60,000 Totals $736,000 $736,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 121 Labor tise ticket 52: Labor tine ticket 53: Labor time ticket 541 $ 10,200 direct materials to Job 42 518,600 direct materials to Job 404 $5,600 indirect materials $ 36,000 direct labor to Job 402 $23,800 direct labor to Job 404 $8.208 indirect labor Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 200% of direct labor cost. Problem 2-3A (Static) Part 1 esc Q 70 2 A 43 # W E S < Prev 56 of 10 Next >> % 85 64 D R 16 &7 T Y 8-> U * 0 0 3 61 LL F G H J K 4 7 P