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 $ 12,700 16,700 11,900 34,500 19,000 21,500 26,800 6,100 12,300 24,000 13,200 7,580 43,500 57,200 278,610 30,000 13,600 Pepper Company $ 19,000 20,100 12,450 26,200 39,800 15,800 20,400 9,200 15,000 43,500 12,740 3,050 55,000 48,400 379,380 21,700 21,700 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year December 31.

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 $ 12,700 16,700 11,900 34,500 19,000 21,500 26,800 6,100 12,300 24,000 13,200 7,580 43,500 57,200 278,610 30,000 13,600 Pepper Company $ 19,000 20,100 12,450 26,200 39,800 15,800 20,400 9,200 15,000 43,500 12,740 3,050 55,000 48,400 379,380 21,700 21,700 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year December 31.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

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 $ 12,500 16,100 7,400 34,750 19,800 21,800 26,200 7,200 12,600 27,000 14,750 4,940 41,500 58,000 296,220 26,000 13,600 Pepper Company $ 17,350 22,050 9,450 25,150 39,400 14,600 20, 200 8,000 15,750 43,000 14,320 3,750 60,500 46,000 388,450 18,700 21,950 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of…
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