The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company Pepper Company $ 16,150 21,000 9,600 23,650 19,200 35,800 13,200 17,600 7,800 16,750 55,000 13,260 1,850 64,000 49,600 379,990 17,200 23,950 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, end 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 $ 12,500 16,500 11,500 31,000 17,450 28,000 5,900 14,100 35,000 14,800 6,740 39,500 62,400 297,240 24,000 14,400 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.

The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company Pepper Company $ 16,150 21,000 9,600 23,650 19,200 35,800 13,200 17,600 7,800 16,750 55,000 13,260 1,850 64,000 49,600 379,990 17,200 23,950 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, end 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 $ 12,500 16,500 11,500 31,000 17,450 28,000 5,900 14,100 35,000 14,800 6,740 39,500 62,400 297,240 24,000 14,400 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.

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Description: Do not give answer in image Required information[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.Finished goods inventory, beginnin

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...

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