Required information Problem 19-3A (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. Debit Credit Cash % 71,000 Accounts receivable 49,008 Raw materials inventory 25,000 Work in process inventory a Finizhed goods inventory 9,068 Prepaid rent 3,880 Accounts payable % 18,980 Notes payable 13,560 Common stock 39,008 Retained earnings (prior year) 82,088 Sales 157,268 Cost of goods sold 120,200 Factory overhead 26,000 General and administrative expenses 46,068 Totals % 334,000 334,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 1@: % 5,888 direct materials to Job 482 Materials requisition 11: % 7,488 direct materials to Job 484 Materials requisition 12: 3 2,100 indirect materials Labor time ticket 52: $ 5,888 direct labor to Job 482 Labor time ticket 53: % 15,908 direct labor to Job 484 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 is 100% of direct labor cost. Prahlam 1Q.RA (Alan) Parr 2 \f\f3. Prepare a revised list of account balances as of December 31. Hint: Use the prior year's Retained Earnings balance of $82.000 in this list. ) Answer is not complete. Cash 5 710008 Accounts receivable 40,000 Raw materials inventory 25000 Q@ Work in process inventory 20,000 @ Finished goods inventory 9,000 Prepaid rent 30009 Accounts payable 10,500 & Factory wages payable Motes payable 13,900 @ Common stock 30,000 Retained earnings (prior year) 69,100 @ Sales 197,200 @ Cost of goods sold 120,000 @ Factory overhead General and administrative expenses 40,000 @ Totals $ 397.100 252,000 \f\fComplete this question by entering your answers in the tabs below. Req 4 Income Req 4 Balance Statement Sheet Req 5 Assume that the $2,100 on materials requisition 12 should have been direct materials charged to Job 404. Does this error result in overstatement or understatement of total assets on the balance sheet at December 317