The following data is provided for Garcon Company and Pepper Company for the year ended December 31. 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 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Garcon Company $ 14,400 17,600 8,000 30,500 24,000 21,050 27,700 5,400 13,650 31,500 10,000 7,580 39,000 63,200 281,730 27,000 16,000 Pepper Company $ 19,150 23,700 14,850 24,250 37,800 13,000 16,600 8,400 15,750 58,000 11,860 2,700 67,000 55,900 392,710 16,700 24,700
The following data is provided for Garcon Company and Pepper Company for the year ended December 31. 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 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Garcon Company $ 14,400 17,600 8,000 30,500 24,000 21,050 27,700 5,400 13,650 31,500 10,000 7,580 39,000 63,200 281,730 27,000 16,000 Pepper Company $ 19,150 23,700 14,850 24,250 37,800 13,000 16,600 8,400 15,750 58,000 11,860 2,700 67,000 55,900 392,710 16,700 24,700
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![[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, 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
Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper
Prepare the income statement for Garcon Company.
GARCON COMPANY
Income Statement
For Year Ended December 31
Cost of goods sold:
Goods available for sale
Cost of goods sold
Cost of goods sold:
Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper
Prepare the income statement for Pepper Company.
Goods available for sale
-
Cost of goods sold
Beg 1 Garcon
PEPPER COMPANY
Income Statement
For Year Ended December 31
Garcon
Company
$ 14,400
0
17,600
8,000
30,500
24,000
21,050
27,700
5,400
13,650
31,500
10,000
7,580
39,000
63,200
281,730
27,000
16,000
0
S
Pepper
Company
0
$ 19,150
23,700
14,850
24,250
37,800
13,000
16,600
8,400
15,750
58,000
11,860
2,700
67,000
55,900
392,710
16,700
24,700
0
Req 1 Pepper >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7d9296b-03a8-404c-ae67-e05a3f84dd14%2Fa8dbb2e5-3c19-4f6a-b9db-de477f2ba7a0%2F3bt5uq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[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, 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
Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper
Prepare the income statement for Garcon Company.
GARCON COMPANY
Income Statement
For Year Ended December 31
Cost of goods sold:
Goods available for sale
Cost of goods sold
Cost of goods sold:
Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper
Prepare the income statement for Pepper Company.
Goods available for sale
-
Cost of goods sold
Beg 1 Garcon
PEPPER COMPANY
Income Statement
For Year Ended December 31
Garcon
Company
$ 14,400
0
17,600
8,000
30,500
24,000
21,050
27,700
5,400
13,650
31,500
10,000
7,580
39,000
63,200
281,730
27,000
16,000
0
S
Pepper
Company
0
$ 19,150
23,700
14,850
24,250
37,800
13,000
16,600
8,400
15,750
58,000
11,860
2,700
67,000
55,900
392,710
16,700
24,700
0
Req 1 Pepper >
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