Skip to question [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 $ 14,100 $ 17,200 Work in process inventory, beginning 17,600 20,550 Raw materials inventory, beginning 7,800 11,550 Rental cost on factory equipment 30,500 23,950 Direct labor 19,200 41,800 Finished goods inventory, ending 19,250 14,700 Work in process inventory, ending 26,500 20,200 Raw materials inventory, ending 7,000 7,800 Factory utilities 11,100 13,750 General and administrative expenses 25,500 50,000 Indirect labor 10,750 12,020 Repairs—Factory equipment 5,900 2,250 Raw materials purchases 34,500 58,000 Selling expenses 58,000 52,900 Sales 282,150 390,560 Cash 26,000 22,700 Accounts receivable, net 16,600 23,700 Exercise 18-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2 Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended 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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Use the following information for the Exercises below. (Algo)

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[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	$ 14,100	$ 17,200
Work in process inventory, beginning	17,600	20,550
Raw materials inventory, beginning	7,800	11,550
Rental cost on factory equipment	30,500	23,950
Direct labor	19,200	41,800
Finished goods inventory, ending	19,250	14,700
Work in process inventory, ending	26,500	20,200
Raw materials inventory, ending	7,000	7,800
Factory utilities	11,100	13,750
General and administrative expenses	25,500	50,000
Indirect labor	10,750	12,020
Repairs—Factory equipment	5,900	2,250
Raw materials purchases	34,500	58,000
Selling expenses	58,000	52,900
Sales	282,150	390,560
Cash	26,000	22,700
Accounts receivable, net	16,600	23,700

Exercise 18-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2

Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31.
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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