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Use the following information for the Exercises below. [The following information applies to the questions displayed below.} The following data is provided for Garcon Company and Pepper Company. Garcon Реpper Company $ 16,450 19,950 9,000 Company $ 12,000 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment 14,500 7,250 27,000 22,750 Direct labor 35,000 19,000 17,650 22,000 5,300 Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor 13,300 16,000 7,200 12,000 3,200 43,000 7,660 9,000 8,200 21,000 1,250 4,780 33,000 50,000 195,030 20,000 212,500 13,200 Repairs-Factory equipment Raw materials purchases Selling expenses Sales 1,500 52,000 46,000 290,010 15,700 115,825 19,450 Cash Factory equipment, net Accounts receivable, net References

Use the following information for the Exercises below. [The following information applies to the questions displayed below.} The following data is provided for Garcon Company and Pepper Company. Garcon Реpper Company $ 16,450 19,950 9,000 Company $ 12,000 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment 14,500 7,250 27,000 22,750 Direct labor 35,000 19,000 17,650 22,000 5,300 Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor 13,300 16,000 7,200 12,000 3,200 43,000 7,660 9,000 8,200 21,000 1,250 4,780 33,000 50,000 195,030 20,000 212,500 13,200 Repairs-Factory equipment Raw materials purchases Selling expenses Sales 1,500 52,000 46,000 290,010 15,700 115,825 19,450 Cash Factory equipment, net Accounts receivable, net References

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question 2- Part 1

**Use the following information for the Exercises below.** *[The following information applies to the questions displayed below.]* The following data is provided for Garcon Company and Pepper Company. | | Garcon Company | Pepper Company | |---------------------------------|----------------|----------------| | Beginning finished goods inventory | $ 12,000 | $ 16,450 | | Beginning work in process inventory | 14,500 | 19,950 | | Beginning raw materials inventory | 7,250 | 9,900 | | Rental cost on factory equipment | 27,000 | 22,750 | | Direct labor | 19,000 | 35,000 | | Ending finished goods inventory | 17,650 | 13,300 | | Ending work in process inventory | 22,000 | 16,000 | | Ending raw materials inventory | 5,300 | 7,200 | | Factory utilities | 9,000 | 12,200 | | Factory supplies used | 8,200 | 3,200 | | General and administrative expenses | 21,000 | 43,000 | | Indirect labor | 1,250 | 7,660 | | Repairs—Factory equipment | 4,780 | 1,500 | | Raw materials purchases | 33,000 | 52,000 | | Selling expenses | 50,000 | 46,000 | | Sales | 195,030 | 290,010 | | Cash | 20,000 | 15,700 | | Factory equipment, net | 212,500 | 115,825 | | Accounts receivable, net | 13,200 | 19,450 | *References*
Transcribed Image Text:**Use the following information for the Exercises below.** *[The following information applies to the questions displayed below.]* The following data is provided for Garcon Company and Pepper Company. | | Garcon Company | Pepper Company | |---------------------------------|----------------|----------------| | Beginning finished goods inventory | $ 12,000 | $ 16,450 | | Beginning work in process inventory | 14,500 | 19,950 | | Beginning raw materials inventory | 7,250 | 9,900 | | Rental cost on factory equipment | 27,000 | 22,750 | | Direct labor | 19,000 | 35,000 | | Ending finished goods inventory | 17,650 | 13,300 | | Ending work in process inventory | 22,000 | 16,000 | | Ending raw materials inventory | 5,300 | 7,200 | | Factory utilities | 9,000 | 12,200 | | Factory supplies used | 8,200 | 3,200 | | General and administrative expenses | 21,000 | 43,000 | | Indirect labor | 1,250 | 7,660 | | Repairs—Factory equipment | 4,780 | 1,500 | | Raw materials purchases | 33,000 | 52,000 | | Selling expenses | 50,000 | 46,000 | | Sales | 195,030 | 290,010 | | Cash | 20,000 | 15,700 | | Factory equipment, net | 212,500 | 115,825 | | Accounts receivable, net | 13,200 | 19,450 | *References*
### Cost of Goods Manufactured for Garcon Company and Pepper Company for the Year Ended December 31, 2017 The table below is designed to help calculate the cost of goods manufactured for both Garcon Company and Pepper Company for the year ending December 31, 2017. #### Direct Materials This section records the costs incurred directly in the manufacturing of the products, such as raw materials. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Direct materials | | | | | | | | **Raw materials available for use** | | | | Direct materials used | | | #### Factory Overhead This section records the indirect manufacturing costs. These can include maintenance, utilities, and other overhead costs. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Factory overhead | | | | | | | | | | | | **Total factory overhead** | | | #### Total Manufacturing Costs This is the aggregate of direct materials and factory overhead costs. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Total manufacturing costs | | | #### Total Cost of Work in Process This includes the cost of manufacturing that is carried forward and is accounted for in the final calculation. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Total cost of work in process | | | #### Cost of Goods Manufactured This is the final result, representing the total cost required to manufacture the goods over the year. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Cost of goods manufactured | | | ### Explanation: In the table, both companies have columns for each itemized cost and total cost points. The table is organized sequentially to guide you through the manufacturing cost calculation process from direct materials to the final cost of goods manufactured. Each step needs the entry of data corresponding to incurred expenses for both Garcon Company and Pepper Company. This structured approach ensures comprehensiveness and clarity for accounting purposes, allowing accurate financial tracking and reporting of manufacturing costs.
Transcribed Image Text:### Cost of Goods Manufactured for Garcon Company and Pepper Company for the Year Ended December 31, 2017 The table below is designed to help calculate the cost of goods manufactured for both Garcon Company and Pepper Company for the year ending December 31, 2017. #### Direct Materials This section records the costs incurred directly in the manufacturing of the products, such as raw materials. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Direct materials | | | | | | | | **Raw materials available for use** | | | | Direct materials used | | | #### Factory Overhead This section records the indirect manufacturing costs. These can include maintenance, utilities, and other overhead costs. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Factory overhead | | | | | | | | | | | | **Total factory overhead** | | | #### Total Manufacturing Costs This is the aggregate of direct materials and factory overhead costs. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Total manufacturing costs | | | #### Total Cost of Work in Process This includes the cost of manufacturing that is carried forward and is accounted for in the final calculation. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Total cost of work in process | | | #### Cost of Goods Manufactured This is the final result, representing the total cost required to manufacture the goods over the year. | | **Garcon Company** | **Pepper Company** | |----------------------------------|--------------------|--------------------| | Cost of goods manufactured | | | ### Explanation: In the table, both companies have columns for each itemized cost and total cost points. The table is organized sequentially to guide you through the manufacturing cost calculation process from direct materials to the final cost of goods manufactured. Each step needs the entry of data corresponding to incurred expenses for both Garcon Company and Pepper Company. This structured approach ensures comprehensiveness and clarity for accounting purposes, allowing accurate financial tracking and reporting of manufacturing costs.
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