[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. Debit Credit Cash $ 65,000 Accounts receivable 34,000 Raw materials inventory 22,000 Work in process inventory Finished goods inventory 9,000 Prepaid rent 3,090 Accounts payable $ 19,900 Notes payable 13,900 Cormon stock 30,000 Retained earnings (prior year) 79,000 Sales 173,200 Cost of goods sold 110,000 Factory overhead 26,000 General and administrative expenses 38,000 Totals $ 307,000 $1307,000 These six documents must be processed to bring the accounting records up to date Materials requisition 10: Materials requisition 111 Materials requisition 121 Labor tine ticket 52 Labor tine ticket 536 Labor time ticket 541 $4.000 direct materials to Job 402 $ 7.700 direct materials to Job 401 $1,600 Indirect materials $ 7.000 direct labor to ob 402 $ 13,000 direct labor to bob 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 3. Prepare a revised list of account balances as of December 31 Hint Use the prior year's Retained Earnings balance of $79,000 in this list Credit BERGO BAY COMPANY List of Account Balances December 31 Dubit Cash $ 65,000 Accounts receivable 34.000 Raw materials Inventory 8.700 Work in process inventory Finished goods inventory 9,000 Prepaid rent 3,000 Accounts payable Factory wages payable Note payable Common stock Rotained earnings (prior year Salo 10.900 13 900 30.000 79.000 173 200