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 $ 12,100 $ 16,750 Work in process inventory, beginning 17,900 22,050 Raw materials inventory, beginning 8,000 12,600 Rental cost on factory equipment 34,250 26,350 Direct labor 20,800 37,800 Finished goods inventory, ending 20,600 15,200 Work in process inventory, ending 22,600 19,000 Raw materials inventory, ending 5,600 8,600 Factory utilities 11,550 14,500 General and administrative expenses 34,000 50,000 Indirect labor 13,000 15,040 Repairs—Factory equipment 7,580 3,950 Raw materials purchases 40,500 58,000 Selling expenses 52,000 47,500 Sales 286,740 374,150 Cash 20,000 16,200 Accounts receivable, net 16,800 19,700 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.
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 $ 12,100 $ 16,750 Work in process inventory, beginning 17,900 22,050 Raw materials inventory, beginning 8,000 12,600 Rental cost on factory equipment 34,250 26,350 Direct labor 20,800 37,800 Finished goods inventory, ending 20,600 15,200 Work in process inventory, ending 22,600 19,000 Raw materials inventory, ending 5,600 8,600 Factory utilities 11,550 14,500 General and administrative expenses 34,000 50,000 Indirect labor 13,000 15,040 Repairs—Factory equipment 7,580 3,950 Raw materials purchases 40,500 58,000 Selling expenses 52,000 47,500 Sales 286,740 374,150 Cash 20,000 16,200 Accounts receivable, net 16,800 19,700 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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 | $ 12,100 | $ 16,750 |
| Work in process inventory, beginning | 17,900 | 22,050 |
| Raw materials inventory, beginning | 8,000 | 12,600 |
| Rental cost on factory equipment | 34,250 | 26,350 |
| Direct labor | 20,800 | 37,800 |
| Finished goods inventory, ending | 20,600 | 15,200 |
| Work in process inventory, ending | 22,600 | 19,000 |
| Raw materials inventory, ending | 5,600 | 8,600 |
| Factory utilities | 11,550 | 14,500 |
| General and administrative expenses | 34,000 | 50,000 |
| Indirect labor | 13,000 | 15,040 |
| Repairs—Factory equipment | 7,580 | 3,950 |
| Raw materials purchases | 40,500 | 58,000 |
| Selling expenses | 52,000 | 47,500 |
| Sales | 286,740 | 374,150 |
| Cash | 20,000 | 16,200 |
| 16,800 | 19,700 |
- 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.
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
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