2-3A (Algo) Computing and recording job costs; preparing income statement and balance sheet LO P1, P2, P3, P4 [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 Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Notes payable Debit Creddit Common stock Retained earnings (prior year) Sales 192,100 Cost of goods sold 105,000 Factory overhead 27,000 General and administrative expenses 47,000 Totals $324,500 $ 324,500 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor tine ticket 52: Labor time ticket 53: Labor time ticket 54: $ 4,900 direct materials to Job 482) $7,700 direct materials to Job 404 $ 1,608 indirect materials $ 5,000 direct labor to Job 482 $15,000 direct labor to Job 484 $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. Problem 2-3A (Algo) Part 1 a. Direct materials b. Direct labor c. Overhead applied. d. Indirect materials e. Indirect labor Required: 1. Use the document information above to prepare journal entries for the above costs View transaction list Pater Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $7,700 direct materials to Job 484 $ 1,600 indirect materials $ 5,000 direct labor to Job 402 $ 15,000 direct labor to Job 484 $ 5,000 indirect labor Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is Problem 2-3A (Algo) Part 1 a. Direct materials. b. Direct labor. c. Overhead applied. d. Indirect materials. e. Indirect labor. Required: 1. Use the document information above to prepare journal entries for the above costs. View transaction list Journal entry worksheet