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. Beginning finished goods

image text in transcribedimage text in transcribedimage 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. Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory 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 General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,300 18,700 9,100 29,000 23,400 21,950 27,700 6,800 9,750 13,000 21,500 1,650 5,900 43,000 51,600 240,030 20,000 217,500 14,800 Pepper Company $ 18,850 21,750 9,600 23,050 41,000 14,200 21,200 9,600 12,500 4,600 59,500 9,700 2,850 70,000 58,000 335, 010 24, 200 175, 825 22,200 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 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 Garcon Company Pepper Company Direct materials Raw materials available for use Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Required Required 2 > Required 1 Required 2 Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year December 31, 2017 Garcon Company Pepper 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_2

Step: 3

blur-text-image_3

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

ISE Financial Accounting

Authors: Robert Libby, Patricia Libby, Frank Hodge Ch

11th Edition

1265083924, 9781265083922

More Books

Students also viewed these Accounting questions

Question

Which of the following is NOT a variable name in Matlab

Answered: 1 week ago