Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required: 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31,

Required: 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2017. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2017.

Required information

[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 $ 14,400 $ 19,150
Beginning work in process inventory 14,500 23,400
Beginning raw materials inventory 8,900 11,850
Rental cost on factory equipment 31,750 22,000
Direct labor 19,800 40,600
Ending finished goods inventory 19,250 15,700
Ending work in process inventory 26,500 19,800
Ending raw materials inventory 7,200 10,000
Factory utilities 13,200 15,500
Factory supplies used 8,500 5,800
General and administrative expenses 29,000 58,000
Indirect labor 1,750 8,440
RepairsFactory equipment 6,620 3,050
Raw materials purchases 37,500 69,500
Selling expenses 53,200 49,600
Sales 234,030 337,510
Cash 23,000 22,700
Factory equipment, net 237,500 145,825
Accounts receivable, net 15,800 23,450

image text in transcribedimage text in transcribed

Required 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2017 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31,2017 Answer is not complete. Complete this question by entering your answers in the tabs below 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, 2017 pper Company Company Direct materials Beginning raw materials inventory Add: Raw materials purchases Raw materials available for use Less: Ending raw materials inventory Direct materials used Direct labor Factory overhead Rental cost on factory equipment Factory utilities Factory supplies used Indirect labor Repairs-Factory equipment Total factory overhead Total manufacturing costs Add: Beginning work in process invento Total cost of work in process Less: Ending work in process inventory Cost of goods manufactured Required 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2017. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2017. 3 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2017. Pepper Garcon Company Company Cost of goods available for sale Cost of goods sold Required 1 Required 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Food And Beverage Cost Control

Authors: Lea R. Dopson, David K. Hayes

6th Edition

1118988493, 978-1118988497

More Books

Students also viewed these Accounting questions