The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Pepper Company Company $ $ 12,000 16,450 14,500 19,950 7,250 9,000 27,000 22,750 19,000 35,000 17,650 13,300 22,000 16,000 5,300 7,200 9,000 12,000 21,000 43,000 9,450 10,860 4,780 1,500 33,000 52,000 50,000 46,000 195,030 290,010 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 20,000 15,700 13,200 19,450 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 Pepper Company Company $ $ 12,000 16,450 14,500 19,950 7,250 9,000 27,000 22,750 19,000 35,000 17,650 13,300 22,000 16,000 5,300 7,200 9,000 12,000 21,000 43,000 9,450 10,860 4,780 1,500 33,000 52,000 50,000 46,000 195,030 290,010 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 20,000 15,700 13,200 19,450 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.

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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