[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. Garcon Company $ 14, 200 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 15,400 10, 100, 33,500 19,800 18,500 23,500 5,900 12,900 30,000 13,950 5,300 41, 500 57, 200 280, 740 Required 1 Required 2 29,000 13,400 Pepper Company $19,600 23, 700 14,550 22,900 43,000 15, 100 21, 400 9,800 17, 250 57,500 14, 460 3,050 56,000 51, 100 374,360 22,700 23, 200 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. Complete this question by entering your answers in the tabs below. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31.
[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. Garcon Company $ 14, 200 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 15,400 10, 100, 33,500 19,800 18,500 23,500 5,900 12,900 30,000 13,950 5,300 41, 500 57, 200 280, 740 Required 1 Required 2 29,000 13,400 Pepper Company $19,600 23, 700 14,550 22,900 43,000 15, 100 21, 400 9,800 17, 250 57,500 14, 460 3,050 56,000 51, 100 374,360 22,700 23, 200 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. Complete this question by entering your answers in the tabs below. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
31 part 1
![[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
$ 14, 200
15,400
10, 100.
33,500.
19,800
18,500
23,500
Required 1 Required 2
5,900
12,900
30,000
13,950
5,300
41, 500
57, 200
280, 740
29,000
13,400
Pepper
Company
$19,600
23, 700
14, 550
22,900
43,000
15, 100
21, 400
9,800
17, 250
57,500
14, 460
3,050
56,000
51, 100
374,360
22,700
23, 200
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.
Complete this question by entering your answers in the tabs below.
Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended
December 31.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff1799000-33ab-4b28-9bb2-f03cfa8defbf%2F58e607fb-5058-4f8f-80c7-0db3138e4968%2Fd40arjt_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
Garcon
Company
$ 14, 200
15,400
10, 100.
33,500.
19,800
18,500
23,500
Required 1 Required 2
5,900
12,900
30,000
13,950
5,300
41, 500
57, 200
280, 740
29,000
13,400
Pepper
Company
$19,600
23, 700
14, 550
22,900
43,000
15, 100
21, 400
9,800
17, 250
57,500
14, 460
3,050
56,000
51, 100
374,360
22,700
23, 200
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.
Complete this question by entering your answers in the tabs below.
Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended
December 31.
Transcribed Image Text:31
Required 1 Required 2
Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended
December 31.
Direct materials
Raw materials available for use
Direct materials used
Factory overhead
Total factory overhead
Total manufacturing costs
Total cost of work in process
Cost of goods manufactured
Garcon
Company
Required 1
Pepper
Company
Required 2 >
Expert Solution
Step 1
Direct material Used :— It is the cost of materials that is directly incurred in manufacturing process of product. It is calculated as follows :—
Direct material Used = Beginning raw material inventory + Raw material purchases — Ending raw material inventory
Total manufacturing Cost :— It is the sum of direct material used, direct labour and factory overhead applied.
Cost of Goods Manufactured :— It is the cost of completed units that are manufactured during the period.
It is calculated as follows:—
Cost of goods manufactured
= Beginning WIP + Total manufacturing cost — Ending WIP
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