Question: Please solve these in the table format breakdown. thanks. Required information [The following information applies to the questions displayed below] Bergo Bay's accounting system generated
![following information applies to the questions displayed below] Bergo Bay's accounting system](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2024/09/66ea0da0c782c_94466ea0da046caa.jpg)

Required information [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. These six documents mast be processed to bring the accounting records up to date. Jobs 402 and 404 are the only jobs in process at year end. The predetermaned overtheod rate is 2009 of direct labor cost. 4. Prepure an income statement for the year and a balance sheet as of December at. Hint Retained camings is $356,800 at the end of the current year. 5. Ascume that the $5,600 on materials requision 12 should have been cfirect matecials charged to Job 404 . Does this emor result in overstatement or understatement of total assets? 4. Prepare an income statement for the year and a balance sh end of the current year. 5. Assume that the $5,600 on materials requisition 12 should h in overstatement or understatement of total assets? Complete this question by entering your answers in the tabs Prepare a balance sheet as of December 31 . 4. Prepare an income statement for the year and a balanc end of the current year. 5. Assume that the $5,600 on materials requisition 12 sho in overstatement or understatement of total assets? Complete this question by entering your answers in Prepare an income statement
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
