TB MC Qu. 3-160 (Static) The following partially completed T-accounts...The following partially completed T-accounts are for Stanford Corporation:Balance(1)(4)DebitDebitRaw Materials7,000 (2)19,000Sales Salaries ExpenseMultiple Choice11,000The cost of direct materials used is:$14,000$18,000$15.000$24,000CreditCredit24,000 Balance(2)(4)(6)DebitDebitWork In Precess11,000 (7)15,00018,00031,000Accounts PayableBalance(1)(5)CreditCredit7 Balance(7)19,0005,000DebitFinished GoodsDebit18,00062,00015,000Salaries and Wages PayableCreditBalance(4)Credit7,00037,000(2)(3)(4)(5)DebitManufacturing Overhead9,000 (6)16,0008,0005,000Credit31,000Accumulated Depreciation-FactoryDebitBalance(3)Credit82,00016,000

The materials used for the production include direct materials and indirect materials. The direct…

he following partially completed T-accounts are for Stanford Corporation: Balance (1) (4) Debit Debit Raw Materials 7,000 (2) 19,000 Sales Salaries Expense Multiple Choice 11,000 The cost of direct materials used is: $14,000 $18,000 O $15.000 $24,000 Credit Credit 24,000 Balance (2) (4) (6) Debit Debit Work In Process 11,000 (7) 15,000 18,000 31,000 Accounts Payable Balance (1) (5) Credit Credit ? 19,000 5,000 Bal (7)

he following partially completed T-accounts are for Stanford Corporation: Balance (1) (4) Debit Debit Raw Materials 7,000 (2) 19,000 Sales Salaries Expense Multiple Choice 11,000 The cost of direct materials used is: $14,000 $18,000 O $15.000 $24,000 Credit Credit 24,000 Balance (2) (4) (6) Debit Debit Work In Process 11,000 (7) 15,000 18,000 31,000 Accounts Payable Balance (1) (5) Credit Credit ? 19,000 5,000 Bal (7)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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