XYZ Company developed the following data for the current year: Ending work in inventory OMR225,000 ; Direct materials used OMR96,000; Manufacturing Overhead applied OMR144,000 ; Cost of goods manufactured OMR350,000; Direct labor cost OMR240,000. Company's beginning work in process inventory is process

XYZ Company developed the following data for the current year: Ending work in inventory OMR225,000 ; Direct materials used OMR96,000; Manufacturing Overhead applied OMR144,000 ; Cost of goods manufactured OMR350,000; Direct labor cost OMR240,000. Company's beginning work in process inventory is process

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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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, beginning Garcon Pepper Company Company $ $ 13,200 18,550 Work in process inventory, beginning 17,700 22,500 Raw materials inventory, beginning 7,700 14,100 Rental cost on factory equipment 31,000 24,100 Direct labor 24,200 43,800 Finished goods inventory, 19,700 13,800 ending Work in process inventory, ending 24,400 21,000 Raw materials inventory, ending 6,700 7,600 Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net 12,300 17,000 34,000 53,500 13,000 14,000 6,500 3,550 36,000 68,000 50,400 56,800 297,600 379,360 27,000 24,200 15,000 20,950 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the…
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