1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31.
1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[The following information applies to the questions displayed below.]
The following data is provided for Garcon Company and Pepper Company for the year ended December 31.
Finished goods inventory, beginning
Work in process inventory, beginning
Raw materials inventory, beginning
Rental cost on factory equipment
Direct labor
Finished goods inventory, ending
Work in process inventory, ending
Raw materials inventory, ending
Factory utilities
General and administrative expenses
Indirect labor
Repairs-Factory equipment
Raw materials purchases
Selling expenses
Sales
Cash
Accounts receivable, net
Garcon
Company
$ 12,000
14,500
7,250
27,000
19,000
17,650
22,000
5,300
9,000
21,000
9,450
4,780
33,000
50,000
195,030
20,000
13,200
Required 1 Required 2
Pepper
Company
$ 16,450
19,950
9,000
22,750
35,000
13,300
16,000
7,200
12,000
43,000
10,860
1,500
52,000
46,000
290,010
15,700
19,450
1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended
December 31.
2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended
December 31.
Complete this question by entering your answers in the tabs below.
Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended
December 31.
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Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
The following data is provided for Garcon Company and Pepper Company for the year ended December 31.
Finished goods inventory, beginning
Work in process inventory, beginning
Raw materials inventory, beginning
Rental cost on factory equipment
Direct labor
Finished goods inventory, ending
Work in process inventory, ending
Raw materials inventory, ending
Factory utilities
General and administrative expenses
Indirect labor
Repairs-Factory equipment
Raw materials purchases
Selling expenses
Sales
Cash
Accounts receivable, net
Garcon
Company
$ 12,000
14,500
7,250
27,000
19,000
17,650
22,000
5,300
9,000
21,000
9,450
4,780
33,000
50,000
195,030
20,000
13,200
Required 1 Required 2
Pepper
Company
$ 16,450
19,950
9,000
22,750
35,000
13,300
16,000
7,200
12,000
43,000
10,860
1,500
52,000
46,000
290,010
15,700
19,450
1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended
December 31.
2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended
December 31.
Complete this question by entering your answers in the tabs below.
Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended
December 31.
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