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Required information Skip to question [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company.
Required information
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[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 | $ | 13,700 | $ | 19,450 | |||||
Beginning work in process inventory | 18,700 | 23,850 | |||||||
Beginning raw materials inventory (direct materials) | 11,800 | 10,500 | |||||||
Rental cost on factory equipment | 31,500 | 25,300 | |||||||
Direct labor | 20,200 | 43,000 | |||||||
Ending finished goods inventory | 17,600 | 15,200 | |||||||
Ending work in process inventory | 24,700 | 21,200 | |||||||
Ending raw materials inventory | 5,600 | 8,400 | |||||||
Factory utilities | 14,850 | 16,250 | |||||||
Factory supplies used (indirect materials) | 13,900 | 5,900 | |||||||
General and administrative expenses | 23,000 | 43,500 | |||||||
Indirect labor | 1,200 | 8,080 | |||||||
RepairsFactory equipment | 5,060 | 3,550 | |||||||
Raw materials purchases | 47,000 | 61,500 | |||||||
Selling expenses | 52,400 | 46,600 | |||||||
Sales | 199,530 | 325,010 | |||||||
Cash | 34,000 | 16,700 | |||||||
Factory equipment, net | 272,500 | 130,825 | |||||||
Accounts receivable, net | 14,800 | 24,700 | |||||||
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, 2019. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2019.
Garcon Company Pepper 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 supplies used Indirect labor RepairsFactory equipment 11,800 47,000 58,800 5,600 53,200 20,200 10,500 61,500 72,000 8,400 63,600 43,000 31,500 13,900 1,200 5,060 25,300 5,900 8,080 3,550 0 0 42,830 Total factory overhead Total manufacturing costs Add: Beginning work in process inventory Total cost of work in process Less: Ending work in process inventory Cost of goods manufactured 51,660 6,000 18,700 24,700 24,700 0 $ 23,850 23,850 21,200 2,650 $Step by Step Solution
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