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Exercise 18-8 Cost of goods manufactured and cost of goods sold computation LO P1, P2 [The following information applies to the questions displayed below.] Using
Exercise 18-8 Cost of goods manufactured and cost of goods sold computation LO P1, P2
[The following information applies to the questions displayed below.]
Using the following data, |
Garcia Company | Culpepper Company | ||||||||
Beginning finished goods inventory | $ | 11,000 | $ | 22,500 | |||||
Beginning goods in process inventory | 20,000 | 19,500 | |||||||
Beginning raw materials inventory | 10,000 | 12,000 | |||||||
Rental cost on factory equipment | 29,000 | 25,500 | |||||||
Direct labor | 26,000 | 37,000 | |||||||
Ending finished goods inventory | 18,000 | 11,500 | |||||||
Ending goods in process inventory | 28,000 | 20,000 | |||||||
Ending raw materials inventory | 9,100 | 8,200 | |||||||
Factory utilities | 9,000 | 19,000 | |||||||
Factory supplies used | 14,700 | 2,200 | |||||||
General and administrative expenses | 22,000 | 46,000 | |||||||
Indirect labor | 1,250 | 7,660 | |||||||
RepairsFactory equipment | 4,780 | 1,500 | |||||||
Raw materials purchases | 30,000 | 43,000 | |||||||
Sales Salaries | 47,000 | 48,000 |
1. Complete the below table to calculate the cost of goods manufactured for both Garcia Company and Culpepper Company. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2. | Complete the below table to calculate the cost of goods sold for both Garcia Company and Culpepper Company.
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