Required information Use the following information for the Exercises below. (Algo) [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. Garcon Company Pepper Company Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor $ 14,200 $ 19,450 15,100 23,700 11,400 11,700 30,250 23,200 24,000 37,000 Finished goods inventory, ending Work in process inventory, ending 20,750 13,400 27,400 19,200 Raw materials inventory, ending Factory utilities 7,500 8,600 12,600 12,000 General and administrative expenses 31,500 57,000 Indirect labor 9,650 12,020 Repairs-Factory equipment 5,060 2,200 Raw materials purchases 40,500 61,500 Selling expenses 56,000 55,600 Sales 288,810 370,870 Cash 29,000 20,200 Accounts receivable, net 15,000 21,950 Exercise 14-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2 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.
Required information Use the following information for the Exercises below. (Algo) [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. Garcon Company Pepper Company Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor $ 14,200 $ 19,450 15,100 23,700 11,400 11,700 30,250 23,200 24,000 37,000 Finished goods inventory, ending Work in process inventory, ending 20,750 13,400 27,400 19,200 Raw materials inventory, ending Factory utilities 7,500 8,600 12,600 12,000 General and administrative expenses 31,500 57,000 Indirect labor 9,650 12,020 Repairs-Factory equipment 5,060 2,200 Raw materials purchases 40,500 61,500 Selling expenses 56,000 55,600 Sales 288,810 370,870 Cash 29,000 20,200 Accounts receivable, net 15,000 21,950 Exercise 14-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2 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.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...
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![Required information
Use the following information for the Exercises below. (Algo)
[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.
Garcon
Company
Pepper
Company
Finished goods inventory, beginning
Work in process inventory, beginning
Raw materials inventory, beginning
Rental cost on factory equipment
Direct labor
$ 14,200
$ 19,450
15,100
23,700
11,400
11,700
30,250
23,200
24,000
37,000
Finished goods inventory, ending
Work in process inventory, ending
20,750
13,400
27,400
19,200
Raw materials inventory, ending
Factory utilities
7,500
8,600
12,600
12,000
General and administrative expenses
31,500
57,000
Indirect labor
9,650
12,020
Repairs-Factory equipment
5,060
2,200
Raw materials purchases
40,500
61,500
Selling expenses
56,000
55,600
Sales
288,810
370,870
Cash
29,000
20,200
Accounts receivable, net
15,000
21,950
Exercise 14-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7ee4f485-b5fb-4baa-b0b7-e33837ba70a4%2Fb54072a2-b35a-4f6f-ae82-2b7a44046cfe%2Fxpojnw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Use the following information for the Exercises below. (Algo)
[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.
Garcon
Company
Pepper
Company
Finished goods inventory, beginning
Work in process inventory, beginning
Raw materials inventory, beginning
Rental cost on factory equipment
Direct labor
$ 14,200
$ 19,450
15,100
23,700
11,400
11,700
30,250
23,200
24,000
37,000
Finished goods inventory, ending
Work in process inventory, ending
20,750
13,400
27,400
19,200
Raw materials inventory, ending
Factory utilities
7,500
8,600
12,600
12,000
General and administrative expenses
31,500
57,000
Indirect labor
9,650
12,020
Repairs-Factory equipment
5,060
2,200
Raw materials purchases
40,500
61,500
Selling expenses
56,000
55,600
Sales
288,810
370,870
Cash
29,000
20,200
Accounts receivable, net
15,000
21,950
Exercise 14-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2
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.
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