Required information

[The following information applies to the questions displayed below.] Bergamo Bay's computer system generated the following trial balance on December 31, 2017. The companys 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.

		Debit			Credit
Cash	$	66,000
Accounts receivable		44,000
Raw materials inventory		27,000
Work in process inventory		0
Finished goods inventory		9,000
Prepaid rent		3,000
Accounts payable				$	9,900
Notes payable					12,900
Common stock					30,000
Retained earnings					82,000
Sales					182,200
Cost of goods sold		102,000
Factory overhead		25,000
Operating expenses		41,000
Totals	$	317,000		$	317,000

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:		$	4,300	direct materials to Job 402
Materials requisition 21-3011:		$	7,300	direct materials to Job 404
Materials requisition 21-3012:		$	1,800	indirect materials
Labor time ticket 6052:		$	7,000	direct labor to Job 402
Labor time ticket 6053:		$	5,000	direct labor to Job 404
Labor time ticket 6054:		$	4,000	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.

3. Prepare a revised trial balance Answer is complete but not entirely correct. BERGAMO BAY COMPANY Trial Balance December 31. 2017 Debit Credit S66,000 44,000 Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Factory wages payable Notes payable Common stock Retained earnings Sales Cost of goods sold Factory overhead Operating expenses Totals 9,000 3,000 9,900 12,900 30,000 82,000 182,200 1,000 S 163,000 S 317,000