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 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 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 Raw materials purchases Selling expenses Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,500 17,000 7,580 32,500 24,400 19,700 22,300 5,300 10,200 10,000 31,500 2,250 6,020 41,000 50,400 - 204,030 32,000 277,500 15,000 Pepper Company $ 18,250 22,050 9,600 25,300 35,400 15,100 20,000 7,200 13,750 4,200 57,500 9,940 2,900 69,000 54,700 297,510 22,700 127,825 24,200 Sales Required: 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company December 31, 2019 E w HEWLETT-PACKARD 16 1 0 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 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, 2019. Garcon Company Pepper Company Is os 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 7.500S 41.000 48.500 5,300 43,200 24.400 0.000 00.000 78.000 7.200 71.400 35,400 OOOOO 32,500 10.200 10.000 2.250 6,020 25,300 13.750 4.200 0.940 2.000 60.070 50,000 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 17.000 17.000 22,300 (5.300) 22,050 22.050 20.000 2.050 IS IS 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. 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, 2019. Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold Garcon Pepper Company Company 12.500 18.250 5,300 X 2.050 17.800 20.300 10,700 15.100 $ (1.000) $ 5.200

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

Accounting Principles Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

9th Canadian Edition

978-1119786818, 1119786819

More Books

Students also viewed these Accounting questions

Question

What questions do you have for us?

Answered: 1 week ago

Question

How does selection differ from recruitment ?

Answered: 1 week ago