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 $ 170,000   Accounts receivable 75,000   Raw materials inventory 80,000   Work in process inventory 0   Finished goods inventory 15,000   Prepaid rent 3,000   Accounts payable   $ 17,000 Notes payable   25,000 Common stock   50,000 Retained earnings (prior year)   271,000 Sales   373,000 Cost of goods sold 218,000   Factory overhead 115,000   General and administrative expenses 60,000   Totals $ 736,000 $ 736,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: $ 10,200 direct materials to Job 402 Materials requisition 11: $ 18,600 direct materials to Job 404 Materials requisition 12: $ 5,600 indirect materials Labor time ticket 52: $ 36,000 direct labor to Job 402 Labor time ticket 53: $ 23,800 direct labor to Job 404 Labor time ticket 54: $ 8,200 indirect labor Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 200% of direct labor cost.   Problem 15-3A (Static) Part 1 Direct materials. Direct labor. Overhead applied. Indirect materials. Indirect labor. Required: 1. Use the document information above to prepare journal entries for the above costs.

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 $ 70,000   Accounts receivable 39,000   Raw materials inventory 24,500   Work in process inventory 0   Finished goods inventory 15,000   Prepaid rent 5,000   Accounts payable   $ 11,800 Notes payable   14,800 Common stock   50,000 Retained earnings (prior year)   94,000 Sales   158,900 Cost of goods sold 112,000   Factory overhead 28,000   General and administrative expenses 36,000   Totals $ 329,500 $ 329,500  These six documents must be processed to bring the accounting records up to date.  Materials requisition 10: $ 4,400 direct materials to Job 402 Materials requisition 11: $ 7,800 direct materials to Job 404…

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 $ 77,000 Accounts receivable 46,000 Raw materials inventory 28,000 Work in process inventory 0 Finished goods inventory 12,000 Prepaid rent 4,000 Accounts payable $ 8,600 Notes payable 11, 600 Common stock 40,000 Retained earnings (prior year) 79,000 Sales 203, 800 Cost of goods sold 113,000 Factory overhead 25,000 General and administrative expenses 38,000 Totals $ 343,000 $343,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: $ 4,200 direct materials to Job 402 Materials requisition 11: $ 7,900 direct materials to Job 404 Materials requisition 12: $ 2,400 indirect materials Labor time ticket 52: $ 7,000…

[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 Debit $ 76,000 Credit 45,000 27,500 Work in process inventory 0 Finished goods inventory 15,000 Prepaid rent 5,000 Accounts payable $ 9,000 Notes payable 12,000 Common stock 50,000 Retained earnings (prior year) 78,000 Sales 213,500 Cost of goods sold 116,000 Factory overhead 27,000 General and administrative 51,000 expenses $ Totals 362,500 362,500 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials $ 4,500 direct materials to Job 402 $ 7,100 requisition 11: Materials requisition 12: Labor time ticket…

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 Notes payable Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Common stock Retained earnings (prior year) Sales Cost of goods sold $ 75,000 44,000 27,000 9,000 3,000 $ 11,500 14,500 38,000 78,000 206,000 115,000 Factory overhead 26,000 General and administrative expenses 41,000 $ 340,000 $340,000 Totals These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor tine ticket 52: Labor tine ticket 53: Labor tine ticket 54: $ 4,700 direct materials to Job 482 $ 7,600 direct materials to…

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 Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overhead General and administrative expenses Totals Debit $ 71,000 Credit 40,000 25,000 0 12,000 4,000 $ 10,000 13,000 40,000 94,000 171,000 112,000 24,000 40,000 $ 328,000 $ 328,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $ 4,800 direct materials to Job 402 $ 7,400 direct materials…

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 Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overhead General and administrative expenses Totals Debit $ 77,000 46,000 28,000 0 9,000 3,000 108,000 26,000 49,000 $ 346,000 Credit $ 10,000 13,000 30,000 82,000 211,000 $ 346,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $ 4,700 direct materials to Job 402 $ 7,300 direct materials to…

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 Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overhead General and administrative expenses Totals Debit $ 75,000 44,000 Credit 27,000 0 9,000 3,000 $ 9,600 12,600 30,000 90,000 204,800 115,000 25,000 49,000 $ 347,000 $ 347,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $ 4,000 direct materials to Job 402 $ 7,700 direct materials to…

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 Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overhead General and administrative expenses Totals Debit $ 75,000 44,000 Credit 27,000 0 9,000 3,000 $ 9,600 12,600 30,000 90,000 204,800 115,000 25,000 49,000 $ 347,000 $ 347,000 These six documents must be processed to bring the accounting records up to da Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $ 4,000 direct materials to Job 402 $ 7,700 direct materials to Job…

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 Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overhead General and administrative expenses Totals Debit $ 75,000 44,000 27,000 0 12,000 4,000 106,000 25,000 54,000 $ 347,000 Credit $ 8,800 11,800 40,000 84,000 202,400 $ 347,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: Labor time ticket 53: Labor time ticket 54: $ 4,800 direct materials to Job 402 $ 7,600 direct materials to…