The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 15,000 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 18, 700 500 11, 32,500 21,000 17,300 25, 600 6,000 11,550 34,000 11,500 5, 420 42, 500 60, 800 289, 290 20, 000 16, 200 Pepper Company $ 17,950 20, 550 10, 650 26, 800 40, 600 14, 100 17,400 7,600 14,000 45, 500 14, 080 2,100 62,500 59,800 380, 200 21, 700 21,450 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.
The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 15,000 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 18, 700 500 11, 32,500 21,000 17,300 25, 600 6,000 11,550 34,000 11,500 5, 420 42, 500 60, 800 289, 290 20, 000 16, 200 Pepper Company $ 17,950 20, 550 10, 650 26, 800 40, 600 14, 100 17,400 7,600 14,000 45, 500 14, 080 2,100 62,500 59,800 380, 200 21, 700 21,450 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
6
Transcribed Image Text:The following data is provided for Garcon Company and Pepper Company for the year ended December 31.
Garcon
Company
$ 15,000
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
Direct materials
Raw materials available for use
Direct materials used
Factory overhead
18, 700
11, 500
32, 500
21, 000
Total factory overhead
Total manufacturing costs
17,300
25, 600
Total cost of work in process
6,000
11,550
34,000
1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended
December 31.
Cost of goods manufactured
11, 500
5, 420
500
2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended
December 31.
Garcon
Company
42,
60, 800
289, 290
20, 000
16, 200
Complete this question by entering your answers in the tabs below.
Pepper
Company
$ 17,950
Required 1 Required 2
Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended
December 31.
20, 550
10, 650
26, 800
40, 600
14, 100
17,400
7,600
14,000
45, 500
14, 080
2,100
62,500
59,800
380, 200
21, 700
21, 450
Pepper
Company
Transcribed Image Text:Required 1 Required 2
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
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
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
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education