The following partially completed T-accounts are for Stanford Corporation:Raw MaterialsBal7,000(2)24,000(1)19,000 Work In ProcessBal11,000(7)?(2)15,000 (4)18,000 (6)31,000 Finished GoodsBal18,000 (7)62,000 15,000 Manufacturing Overhead(2)9,000(6)31,000(3)16,000 (4)8,000 (5)5,000 Accumulated Depreciation-Factory Bal82,000 (3)16,000 Sales Salaries Expense(4)11,000 Accounts Payable Bal (1)19,000 (5)5,000 Salaries and Wages Payable Bal7,000 (4)37,000 The indirect labor cost is:
A. $15,000
B. $8,000
C. $37,000
D. $18,000
Answer: B
You might also like to view...
During a negotiation, the attention a negotiator pays to additional parties-regardless of who they are-is described as ________ effects.
Fill in the blank(s) with the appropriate word(s).
The business entity assumption:
A. Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods. B. Means that a business is accounted for separately from other business entities, including its owners. C. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold. D. Means that we can express transactions and events in monetary, or money, units. E. Prescribes that a company record the expenses it incurred to generate the revenue reported.
Treasury stock refers to the ________
A) sale of stock at a price greater than the par value B) stock issued by the US government C) repurchase of outstanding stock D) authorization of additional shares of stock by the board of directors
Marketers' use of trade allowances is controlled by the ________, which prohibits price discrimination.
A. Federal Trade Commission Act B. Robinson-Patman Act C. FDA Act D. Lanham Act E. Wheeler-Lea Amendment