### Data for Garcon Company and Pepper Company#### Provided Data| Item | Garcon Company | Pepper Company ||----------------------------------------|----------------|----------------|| Beginning finished goods inventory | $14,200 | $17,050 || Beginning work in process inventory | $15,800 | $20,100 || Beginning raw materials inventory (direct materials) | $5,100 | $13,350 || Rental cost on factory equipment | $22,250 | $22,300 || Direct labor | $38,800 | $37,400 || Ending finished goods inventory | $19,000 | $14,800 || Ending work in process inventory | $14,200 | $19,800 || Ending raw materials inventory | $5,100 | $8,400 || Factory utilities | $7,000 | $13,750 || Factory supplies used (indirect materials) | $4,900 | $5,300 || General and administrative expenses | $50,650 | $46,000 || Indirect labor | $8,500 | $8,260 || Repairs—Factory equipment | $3,820 | $2,950 || Raw materials purchases | $47,500 | $54,500 || Selling expenses | $57,600 | $55,000 || Sales | $249,030 | $327,510 || Cash | $34,000 | $17,700 || Factory equipment, net | $277,500 | $148,825 || Accounts receivable, net | $16,600 | $22,450 |#### Required Calculations1. **Cost of Goods Manufactured**: - Complete the table to determine the cost of goods manufactured for Garcon Company and Pepper Company for the year ended December 31, 2019.2. **Cost of Goods Sold**: - Complete the table to calculate the cost of goods sold for Garcon Company and Pepper Company for the year ended December 31, 2019.**Note**: Review all provided financial data and ensure that all components such as direct labor, raw materials, and overhead costs ## Manufacturing Cost Information This section provides a breakdown of the manufacturing costs for two companies. The table below outlines the costs associated with direct materials and factory overheads.### Direct Materials| | Company 1 | Company 2 ||--------------|-----------|-----------|| **Beginning work in process inventory** | $16,000 | $20,100 || **Raw materials available for use** | $16,000 | $20,100 || **Direct materials used** | $16,000 | $20,100 |### Factory Overhead| | Company 1 | Company 2 ||--------------|-----------|-----------|| **Total factory overhead** | $0 | $0 |### Manufacturing Costs| | Company 1 | Company 2 ||--------------|-----------|-----------|| **Total manufacturing costs** | | || **Total cost of work in process** | $0 | $0 || **Cost of goods manufactured** | $0 | $0 | This table compares the beginning inventory in the work-in-process for both companies, along with the usage of raw materials for their production processes. It helps in understanding the input costs involved in the manufacturing processes of the two companies, though additional data for factory overheads and final costs are not provided in this chart.

Name: ### Data for Garcon Company and Pepper Company#### Provided Data| Ite
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Description: ### Data for Garcon Company and Pepper Company#### Provided Data| Item | Garcon Company | Pepper Company ||----------------------------------------|----------------|----------------|| Beginning finished goods invent

Cost of goods sold = Beginning finished goods inventory + cost of goods manufactured - ending…

Business

Accounting

The following data is provided for Garcon Company and Pepper Company. Garcon Company Beginning finished goods inventory $ 14,200 Beginning work in process inventory 16,000 9,500 Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor 32,250 22,200 Ending finished goods inventory Ending work in process inventory 20,900 26,200 Ending raw materials inventory Factory utilities 5,800 15,000 Factory supplies used (indirect materials) General and administrative expenses 10,000 25,500 Indirect labor 1,650 7,820 Repairs-Factory equipment Raw materials purchases Selling expenses Sales 47,500 57,600 249,030 Cash 34,000 Factory equipment, net Accounts receivable, net 277,500 16,600 Pepper Company $ 17,050 20,100 13,350 22,300 37,400 14,800 19,800 8,400 13,750 5,300 46,000 8,260 2,950 54,500 55,000 327,510 17,700 148,825 22,450

The following data is provided for Garcon Company and Pepper Company. Garcon Company Beginning finished goods inventory $ 14,200 Beginning work in process inventory 16,000 9,500 Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor 32,250 22,200 Ending finished goods inventory Ending work in process inventory 20,900 26,200 Ending raw materials inventory Factory utilities 5,800 15,000 Factory supplies used (indirect materials) General and administrative expenses 10,000 25,500 Indirect labor 1,650 7,820 Repairs-Factory equipment Raw materials purchases Selling expenses Sales 47,500 57,600 249,030 Cash 34,000 Factory equipment, net Accounts receivable, net 277,500 16,600 Pepper Company $ 17,050 20,100 13,350 22,300 37,400 14,800 19,800 8,400 13,750 5,300 46,000 8,260 2,950 54,500 55,000 327,510 17,700 148,825 22,450

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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