Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) The following data is provided for

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information Use the following information for the Exercises below. [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 Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 13,300 17,000 9,700 34,500 20,000 19,700 24,400 7,400 12,150 10,300 33,500 2,300 6,260 33,000 63,200 226,530 32,000 282,500 14,400 Pepper Company $ 19,000 22,200 10,650 24,400 44,600 14,500 18,000 9,400 17,250 4,800 48,500 9,580 2,550 63,500 51,400 297,510 23,700 124,825 19,450 Exercise 14-8 Cost of goods manufactured and cost of goods sold computation LO P1, P2 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 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 Direct materials used Factory overhead 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 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 ended December 31, 2019. FREE Garcon Company Pepper Company Cost of goods available for sale Cost of goods sold

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 Accounting An IFRS Perspective In Romania

Authors: Adriana Dutescu

1st Edition

3030294870, 978-3030294878

More Books

Students also viewed these Accounting questions

Question

In what ways have gender roles changed in the United States?

Answered: 1 week ago