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

-The cost of goods sold (after adjustment for underapplied or overapplied manufacturing overhead)is:
A) $58,000
B) $69,000
C) $72,000
D) $65,000

Question

The following partially completed T-accounts are for Stanford Corporation:
        
-The cost of goods sold (after adjustment for underapplied or overapplied manufacturing overhead)is:
A) $58,000 
B) $69,000 
C) $72,000 
D) $65,000

Quizplus · Accepted Answer

The unadjusted cost of goods sold is the credit entry to Finished Goods which can be determined as follows:
 11ea7761_18f3_dfbd_81a5_63855f6b18fe_TB2580_00 15,000 = 18,000 + 62,000 - X
X = 18,000 + 62,000 - 15,000 = 65,000
 11ea7761_18f3_dfbe_81a5_39208d4946bc_TB2580_00 11ea7761_18f4_06cf_81a5_89c75e73bf8d_TB2580_00 The balance in Manufacturing Overhead is close to Cost of Goods Sold.
 11ea7761_18f4_06d0_81a5_0380952b8283_TB2580_00 11ea7761_18f4_06d1_81a5_c9ad3d05f35a_TB2580_00

The Following Partially Completed T-Accounts Are for Stanford Corporation