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

Question

5 The following partially completed T-accounts are for Stanford Corporation: Work In Process 11,000 (7) 15,000 18,000 31,000 Finished Goods 18,000 62,000 15,000 Raw Materials 7,000 (2) 24,000 Bal Bal 19,000 2 00-37:30 Manufacturing overhead Accunulated Depreciation--Factory Sales Salaries Expense Bal 82,000 (4) 16,000 9,000 (6) 31,000 11,000 16,000 8,000 5,000 Accounts Payable Salaries and wages Bal able 7,000 37,000 Bal 19,000 5,000 The cost of goods manufactured is: Multiple Choice $82,000 $64.000 $71,000 $62,000

Explanation / Answer

Calculate cost of goods manufactured :

Cost of goods manufactured is given in finished goods T account No.7 which is transferred from work in process account no. 7 its 62000

so answer is d) $62,000

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