Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required Information [The following information applies to the questions displayed below) The following data is provided for Garcon Company and Pepper Company Company $ 516,

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Required Information [The following information applies to the questions displayed below) The following data is provided for Garcon Company and Pepper Company Company $ 516, Company 14. 15,700 11.2 30,5 20, 18, 35e Beginning finished goods inventory Beginning work in process inventory Beginning raw materials Inventory direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-factory equipment Romaterials purchases Selling expenses Sales 19,95 18.20 25, DINO 44, 16,800 16. B 8, 13,000 5. 47, 9,28e 2,65e 7,5 12,1 29, 2,15e 7,460 59, 241,53 14, 51, 4ee 347, 51e 16,20 151,825 23,7 Factory equipment, net Accounts receivable, net 2.37,50 15,200 Required: 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the vear 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 Complete this question by entering your answers in the tabs below. Required information 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 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, 2019. Garcon Company Pepper Company Direct materials Raw materials available for use Deed materials used Factory overhead 0 Total factory overhead Total manufacturing costs Total cost of work in process 5 0 Cost of goods manufactured Required 2 > 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 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, 2019. Garcon Company Pepper Company Cost of goods available for sale Cost of goods sold 5 05 0 (Required 1 bed Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 9,700 29, eee 2,150 7,460 37,000 59,6ee 241,530 34, eee 237,500 15, 2ee 6,eee 47,eee 9,280 2,650 62,5ee 51,4e2 347,510 16,20 151,825 23,700 ok Required: 1. Prepare Income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax Req 1 Pepper > Raw materials purchases selling expenses Sales Cash Factory equipment, net Accounts receivable, net 37,eed 59,6ee 241,53 34, eee 237,5ee 15,288 62,500 51,4ee 347,510 16, 2ee 151,825 23,7ee Required: 1. Prepare Income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req i Garcon Rea Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company PEPPER COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax 2100 POLLUI Cupeilly CL Accounts receivable, net 15, 2ee 151,825 23,7ee Required: 1. Prepare Income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Rea Garcon Reg 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company, GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: Oo Total current assets Accounts receivable, net 15,200 23,700 Required: 1. Prepare Income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Reg 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company, PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 TES Inventories: Total current assets Repairs-Factory equipment Raw materials purchases Selling expenses sales Cash Factory equipment, net Accounts receivable, net 7,468 37, eee 59,6ee 241,530 34, eee 237,5ee 15,280 2,650 62,500 51,4ee 347,510 16,280 151,825 23,7ee Required: 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion costs for both Garcon Company and Pepper Company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total conversion costs for both Garcon Company and Pepper Company, Garcon Company Pepper Company Direct labor Factory overhead IT STEP Total factory overhead Total conversion costs

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

Financial & Managerial Accounting

Authors: Carl S. Warren

10th Edition

0324663811, 9780324663815

More Books

Students also viewed these Accounting questions

Question

Identify the three broad categories of management assertions.

Answered: 1 week ago