Problem $2-3A(Algo)$ Computing and recording job costs; preparing income statement and balance sheet

$LOP1,P2,P3,P4$

$[The$ 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.

These six documents must $be$ processed $to$ bring the accounting records $upto$ date.

Materials requisition $10$: $$4,800$ direct materials $to$ Job $402$

Materials requisition $11$: $$7,800$ direct materials $to$ Job $404$

Materials requisition $12$: $$2,300$ indirect materials

Labor time ticket $52$: $$8,000$ direct labor $to$ Job $402$

Labor time ticket $53$: $$12,000$ direct labor $to$ Job $404$

Labor time ticket $54$: $$5,000$ indirect labor

Jobs $402$ and $404$ are the only jobs $in$ process $at$ year$-$end. The predetermined overhead rate $is150\%of$ direct labor cost.