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, beginningWork in process inventory, beginning.Raw materials inventory, beginningRental cost on factory equipmentDirect laborFinished goods inventory, endingWork in process inventory, endingRaw materials inventory, endingFactory utilitiesGeneral and administrative expenses.Indirect laborRepairs-Factory equipmentRaw materials purchasesSelling expensesSalesCashAccounts receivable, netGarconCompany$ 12,70018,8008,90027,50021,60020,15023,8007,60011,40024,50014,2007,70043,50053,200294,72030,00015,200PepperCompany$ 19,75022,35014,70023,50044,20014,10018,4009,60016,25052,00013,1203,70058,00054,700391,180124,20020,7001. Compute the total prime costs for both Garcon Company and Pepper Company.2. Compute the total conversion costs for both Garcon Company and Pepper Company. Complete this question by entering your answers in the tabs below.Required 1 Required 2Compute the total prime costs for both Garcon Company and Pepper Company.GarconCompanyPepperCompanyTotal prime costs

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Description: 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, beginningWork in process inventory

The prime cost is the one which includes all the direct costs includes in the making of a product.…

Business

Accounting

The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,700 18,800 8,900 27,500 21,600 20,150 23,800 7,600 11,400 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 materiale purchases Selling expenses Sales Cash Accounts receivable, net 24,500 14,200 7,700 43,500 53,200 294,720 30,000 15,200 Pepper Company $19,750 22,350 14,700 23,500 44,200 14,100 18,400 9,600 16,250 52,000 13,120 3,700 58,000 54,700 391,180 24,200 20,700 Compute the total prime costs for both Garcon Company and Pepper Company. Compute the total conversion costs for both Garcon Company and Pepper Company.

The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,700 18,800 8,900 27,500 21,600 20,150 23,800 7,600 11,400 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 materiale purchases Selling expenses Sales Cash Accounts receivable, net 24,500 14,200 7,700 43,500 53,200 294,720 30,000 15,200 Pepper Company $19,750 22,350 14,700 23,500 44,200 14,100 18,400 9,600 16,250 52,000 13,120 3,700 58,000 54,700 391,180 24,200 20,700 Compute the total prime costs for both Garcon Company and Pepper Company. Compute the total conversion costs for both Garcon Company and Pepper Company.

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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[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 Garcon Company $ 13,300 15,700 11,700 27,750 21,800 21,950 25,600 7,100 13,800 27,500 15,700 6,380 40,000 53,600 284,550 26,000 14,400 Pepper Company $ 18,550 19,500 12,000 25,750 38,600 13,600 19, 200 8,600 14,750 43,500 13,920 3,300 55,500 57,400 379,108 17,700 21,950 Exercise 18-8 (Algo) Preparing financial statements for a manufacturer LO P1 1. Prepare Income statements for both Garcon Company and…
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