\\\\table[[Materials requisition 10:,

$10,200

direct materials to Job 402],[Materials requisition 11:,

$18,600

direct materials to Job 404],[Materials requisition

12:

,

$5,600

indirect materials],[Labor time ticket 52:,

$36,000

direct labor to Job 402],[Labor time ticket 53:,

$23,800

direct labor to Job 404],[Labor time ticket

54:

,

$8,200

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.\ kroblem 15-3A (Static) Parts 4 and 5\ eBook\ end of the current year.\ 5. Assume that the

$5,600

on materials requisition 12 should have been direct materials charged to Job 404 . Does this error result in overstatement or understatement of total assets?\ Complete this question by entering your answers in the tabs below.\ Req 4 Income\

R

\ Req\ 4 Balance\ Req 5\ Statement\ Sheet

\begin{tabular}{ll} Materials requisition 10: & $10,200 direct materials to Job 402 \\ Materials requisition 11: & $18,600 direct materials to Job 404 \\ Materials requisition 12: & $5,600 indirect materials \\ Labor time ticket 52: & $36,000 direct labor to Job 402 \\ Labor time ticket 53: & $23,800 direct labor to Job 404 \\ Labor time ticket 54: & $8,200 indirect labor \end{tabular} Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 200% of direct labor cost. Problem 15-3A (Static) Parts 4 and 5 4. Prepare an income statement for the year and a balance sheet as of December 31. Hint: Retained earnings is $356,800 at the end of the current year. 5. Assume that the $5,600 on materials requisition 12 should have been direct materials charged to Job 404 . Does this error result in overstatement or understatement of total assets? Complete this question by entering your answers in the tabs below. Prepare a balance sheet as of December 31 . \begin{tabular}{ll} Materials requisition 10: & $10,200 direct materials to Job 402 \\ Materials requisition 11: & $18,600 direct materials to Job 404 \\ Materials requisition 12: & $5,600 indirect materials \\ Labor time ticket 52: & $36,000 direct labor to Job 402 \\ Labor time ticket 53: & $23,800 direct labor to Job 404 \\ Labor time ticket 54: & $8,200 indirect labor \end{tabular} Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 200% of direct labor cost. Problem 15-3A (Static) Parts 4 and 5 4. Prepare an income statement for the year and a balance sheet as of December 31. Hint: Retained earnings is $356,800 at the end of the current year. 5. Assume that the $5,600 on materials requisition 12 should have been direct materials charged to Job 404 . Does this error result in overstatement or understatement of total assets? Complete this question by entering your answers in the tabs below. Prepare a balance sheet as of December 31