The following data is provided for Garcon Company and Pepper Company for the year end 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 $ 12,800 15,400 8,000 31,500 20, 200 21,350 23,200 8,000 9,450 21,000 11,900 7,460 36,500 55,200 296, 280 23,000 13,600 Pepper Company $ 19,750 21,600 9,900 24,550 35,400 14,500 16,600 9,800 16,000 49,000 12,520 3,350 68,000 48,100 395,860 15,700 19,700

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Please do not give solution in image format thanku 

The following data is provided for Garcon Company and Pepper Company for the year ended December 31.
Garcon
Company
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
$ 12,800
15,400
8,000
31,500
20, 200
21,350
23, 200
8,000
9,450
21,000
11,900
7,460
36,500
55,200
296,280
23,000
13,600
Pepper
Company
$ 19,750
21,600
9,900
24,550
35,400
14,500
16,600
9,800
16,000
49,000
12,520
3,350
68,000
48, 100
395,860
15,700
19,700
Transcribed Image Text:The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company 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 $ 12,800 15,400 8,000 31,500 20, 200 21,350 23, 200 8,000 9,450 21,000 11,900 7,460 36,500 55,200 296,280 23,000 13,600 Pepper Company $ 19,750 21,600 9,900 24,550 35,400 14,500 16,600 9,800 16,000 49,000 12,520 3,350 68,000 48, 100 395,860 15,700 19,700
Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended
December 31.
Goods available for sale
Cost of goods sold
Garcon
Company
Pepper
Company
Transcribed Image Text:Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Goods available for sale Cost of goods sold Garcon Company Pepper Company
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Quality control
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education