Problem 15-3A Computing and recording job costs; preparing income statement and balance sheet P1 P2 P3 P4 payroll (Factory Wages Payable) has not been recorded. page 607 These six documents must be processed to bring the accounting records up to date. Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 200% of direct labor cost. Required 1. Use the document information above to prepare journal entries for the following costs. a. Direct materials b. Direct labor. c. Overhead applied. d. Indirect materials. e. Indirect labor. 3. Prepare a revised list of account balances as of December 31. Hint: Use the prior year's Retained Earnings balance of $271,000 in this list. 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. Check (4) Total assets, $516,800