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The following partially completed T-accounts are for Stanford Corporation, which uses job order costing: Raw Materials Debit Credit Balance 7,000 (2) 24,000 (1) 19,000 Work
The following partially completed T-accounts are for Stanford Corporation, which uses job order costing:
| 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 | (8) | ? |
| (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 adjusted cost of goods sold is:
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Human And Social Audit
Authors: N P Agarwal
1st Edition
8176113980, 978-8176113984
