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Bergo Bay's accounting system generated the following account balances on December 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 up to date.
Jobs and are the only jobs in process at yearend. The predetermined overhead rate is of direct labor cost.
Prepare an income statement for the year and a balance sheet as of December Hint: Retained eamings is $ at the
end of the current year.
Assume that the $ on materials requisition should have been direct materials charged to Job Does this efror result
in overstatement or understatement of total assets?
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Req
Prepare an income statement.
Please answer all parts, thank you!
