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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
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 manufactured is:
Multiple Choice
$82,000
$62,000
$64,000
$71,000
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Auditing And Assurance Services
Authors: William Messier, Steven Glover, Douglas Prawitt
8th Edition
0078025435, 9780078025433
