Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Use the following information for the Exercises below. Skip to question [The following information applies to the questions displayed below.] The following data

Required information

Use the following information for the Exercises below.

Skip to question

[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 $ 13,600 $ 18,100
Beginning work in process inventory 15,600 20,100
Beginning raw materials inventory (direct materials) 9,500 13,350
Rental cost on factory equipment 27,250 26,800
Direct labor 24,800 36,200
Ending finished goods inventory 20,450 15,500
Ending work in process inventory 23,200 21,400
Ending raw materials inventory 7,600 8,400
Factory utilities 9,750 16,750
Factory supplies used (indirect materials) 12,700 3,600
General and administrative expenses 29,000 52,000
Indirect labor 1,900 7,900
RepairsFactory equipment 6,140 2,300
Raw materials purchases 45,000 60,500
Selling expenses 52,800 52,300
Sales 229,530 322,510
Cash 29,000 19,200
Factory equipment, net 222,500 151,825
Accounts receivable, net 15,200 23,450

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.

8.6.1

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

Corporate Responsibility

Authors: Tom Cannon

2nd Edition

0273738739, 9780273738732

Students also viewed these Accounting questions