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The following partially completed T-accounts are for Stanford Corporation:Raw ...

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The following partially completed T-accounts are for Stanford Corporation:Raw ...

The following partially completed T-accounts are for Stanford Corporation:

Raw Materials
Debit		Credit
Balance	7,000	(2)	24,000
(1)	19,000

Work In Process
Debit		Credit
Balance	11,000	(7)	?
(2)	15,000
(4)	18,000
(6)	31,000

Finished Goods
Debit		Credit
Balance	18,000
(7)	62,000
	15,000

Manufacturing Overhead
Debit		Credit
(2)	9,000	(6)	31,000
(3)	16,000
(4)	8,000
(5)	5,000

Accumulated Depreciation--Factory
Debit	Credit
	Balance	82,000
	(3)	16,000

Sales Salaries Expense
Debit		Credit
(4)	11,000

Accounts Payable
Debit	Credit
	Balance
	(1)	19,000
	(5)	5,000

Salaries and Wages Payable
Debit	Credit
	Balance	7,000
	(4)	37,000

The cost of goods sold (after adjustment for underapplied or overapplied manufacturing overhead) is:

▸ $58,000

▸ $69,000

▸ $72,000

▸ $65,000

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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