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Required information (The following information applies to the questions displayed below.) Bergamo Bay's computer system generated the following trial balance on December 31, 2019. The

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Required information (The following information applies to the questions displayed below.) Bergamo Bay's computer system generated the following trial balance on December 31, 2019. 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 Wages Payable) has not been recorded. Debit Credit Cash $ 69,000 Accounts receivable 38,000 Raw materials inventory 24,000 Work in process inventory 0 Finished goods inventory 12,000 Prepaid rent 4,000 Accounts payable $ 11,300 Notes payable 14,300 Common stock 40,000 Retained earnings 87,000 Sales 176,400 Cost of goods sold 109,000 Factory overhead 27,000 Operating expenses 46,000 Totals $329,000 $329,000 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: Materials requisition 21-3011: Materials requisition 21-3012: Labor time ticket 6052: Labor time ticket 6053: Labor time ticket 6054: $ 4,000 direct materials to Job 402 $ 7,300 direct materials to Job 404 $ 1,600 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 units in process at year-end. The predetermined overhead rate is 150% of direct labor cost. 2-a. Post any entries from part 1 related to factory overhead to the T-account below to determine the amount of under-or overapplied overhead for the year. Determine whether there is any under-or overapplied overhead for the year. 2-b. Prepare the adjusting entry to allocate any over- or underapplied overhead to cost of Goods Sold, assuming the amount is not material. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Post any entries from part 1 related to factory overhead to the T-account below to determine the amount of under-or overapplied overhead for the year. Determine whether there is any under- or overapplied overhead for the year. Revised Factory Overhead account Ending balance from trial balance Required 2A Required 2B > Complete this question by entering your answers in the tabs below. Required 2A Required 2B Prepare the adjusting entry to allocate any over- or underapplied overhead to cost of Goods Sold, assuming the amount is not material. View transaction list Journal entry worksheet 4. Prepare an income statement for 2019 and a balance sheet as of December 31, 2019. Complete this question by entering your answers in the tabs below. Income Balance Statement Sheet Prepare a balance sheet as of December 31, 2019. BERGAMO BAY COMPANY Balance Sheet December 31, 2019 Assets Inventories Total assets Liabilities and equity Total liabilities Total stockholders' equity Total liabilities and equity Income Statement Balance Sheet

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