Transcribed image text: - Homework Saved Help Save & Exit Submit 1 Check my work 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. Credit Debit $ 70,000 39,000 24,500 6,000 2,000 Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Notes payable Common stock Retained earnings Sales Cost of goods sold Factory overhead Operating expenses Totals $ 11, 100 14,100 20,000 84,000 190,300 104,000 25,000 49,000 $319,500 $319,500 9 - Homework i Saved Help Save & Exit Subm Check my work 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: $ 4,500 direct materials to Job 402 $ 7,900 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 -1 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