Required Information Problem 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 Credit 38,600 11,600 Common stock 50,000 Retained earnings (prior year) 93,000 Sales 150, 300 Cost of goods sold 101,000 Factory overhead 27,000 General and administrative expenses Totals 42,000 $313,500 $313,500 These six documents must be processed to bring the accounting records up to date. Materials requisition 18: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $4,400 direct materials to Job 402 $ 7,600 direct materials to Job 404 $ 1,900 indirect materials $ 5,000 direct labor to Job 402 $ 15,000 direct labor to Job 404 $5,000 indirect labor Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 150% of direct labor cost oblem 2-3A (Algo) Part 3 Prepare a revised list of account balances as of December 31. Hint: Use the prior year's Retained Earnings balance of $93,000 in list sh counts receivable w materials inventory BERGO BAY COMPANY List of Account Balances December 31 Debit Credit