Reference: 03-04
the Following T Accounts Are for Stanford Company

question 52

Multiple Choice

Reference: 03-04
The following T accounts are for Stanford Company:
$\begin{array}{}\text { Sales Salaries Expense }&\text { Work in Process }\\\begin{array} { l|llll } \hline\text { Beg. Bal. 7,000 }&24,000\quad(2) \\(1) \quad\quad19,000\end{array}&\begin{array} { l|llll } \hline ?\quad\quad(8) &\quad\quad\\?\quad\quad(9) \end{array}\end{array}$
$\begin{array}{lll}\text { Sales Salaries Expense }&\text { Work in Process }\\\begin{array} { l|llll } \hline (4) \quad\quad11,000&\\\\\\\\\end{array}&\begin{array} { l|llll } \hline \text {(4) }\quad\quad11,000&\quad\\(2) \quad\quad15,000\\(4) \quad\quad181,000\\(6) \quad\quad31,000\\\end{array}\end{array}$
$\begin{array}{lll}\text { Accounts Payable }&\text { Manufacturing Overhead }\\\begin{array} { l|llll } \hline \quad\quad\quad\quad&19,000\quad\quad(1) \\&5,000\quad\quad(5) \\\\\\\end{array}&\begin{array} { l|llll } \hline \text {(2) }\quad\quad9,000&31,000\quad\quad(6) \\(3) \quad\quad16,000&\quad\quad\quad\quad?(9) \\(4) \quad\quad8,000\\(5) \quad\quad5,000\\\end{array}\end{array}$
$\begin{array}{lll}\text { Wages \& Salaries Payable }&\text { Finished Goods }\\\begin{array} { l|llll } \hline \quad\quad\quad\quad&7,000 \text { Beg. Bal. }\\&37,000\quad\quad(4) \\\\\\\end{array}&\begin{array} { l|llll } \hline\text { Beg. Bal. 18,000 }&\quad\quad\quad\quad?(8) \\(7) \quad\quad62,000&\quad\quad\quad\quad?\\\text { End. Bal. 15,000 }\\\\\end{array}\end{array}$
$\begin{array}{lll}\text { Accumulated Depreciation-Factory }\\\begin{array} { l|llll } \hline \quad\quad\quad\quad&82,000 \quad \text { Beg. Bal. }\\&16,000\quad\quad(3) \\\\\\\end{array}\end{array}$

-The ending Work in Process account balance is?

• A)$20,000.
• B)$13,000.
• C)$64,000.
• D)$75,000.

---

Definitions:

Performance Evaluation

The process of assessing the effectiveness, efficiency, and achievements of an employee, department, or organization against predetermined benchmarks or objectives.

Operating Departments

Specific areas within a business that are responsible for certain operations related to the production of goods or delivery of services.

Logistics Department

A division within a company or organization responsible for managing the movement and storage of goods, services, and information.

Variable Costs

Expenses that change in proportion to the production or sales levels, including labor and materials.