Required information

Use the following information for the Exercises below.

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Required information

Use the following information for the Exercises below.

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The following selected account balances are provided for Delray Mfg.

Sales	$	1,354,000
Raw materials inventory, Dec. 31, 2016		44,000
Work in process inventory, Dec. 31, 2016		50,700
Finished goods inventory, Dec. 31, 2016		66,700
Raw materials purchases		177,300
Direct labor		232,000
Factory computer supplies used		18,700
Indirect labor		44,000
RepairsFactory equipment		5,250
Rent cost of factory building		58,000
Advertising expense		97,000
General and administrative expenses		125,000
Raw materials inventory, Dec. 31, 2017		42,100
Work in process inventory, Dec. 31, 2017		38,200
Finished goods inventory, Dec. 31, 2017		71,700

Exercise 18-13 Preparation of schedule of cost of goods manufactured LO P2

Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017.

[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		$	13,100			$	18,400
Beginning work in process inventory			17,200				20,100
Beginning raw materials inventory			9,400				13,200
Rental cost on factory equipment			30,000				24,250
Direct labor			21,600				40,200
Ending finished goods inventory			18,650				15,100
Ending work in process inventory			26,500				19,800
Ending raw materials inventory			6,800				8,600
Factory utilities			14,550				14,000
Factory supplies used			9,400				5,800
General and administrative expenses			21,000				55,000
Indirect labor			2,000				8,740
RepairsFactory equipment			7,820				1,950
Raw materials purchases			38,000				67,500
Selling expenses			62,400				52,900
Sales			231,030				342,510
Cash			23,000				23,700
Factory equipment, net			222,500				133,825
Accounts receivable, net			13,600				23,200

Exercise 18-9 Preparing financial statements for a manufacturer LO C4, P2

Required: 1-a. Prepare income statements for both Garcon Company and Pepper Company. 1-b. Prepare the current assets section of the balance sheet for each company.

Use the following information for the Exercises below.

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The following selected account balances are provided for Delray Mfg.

Sales	$	1,354,000
Raw materials inventory, Dec. 31, 2016		44,000
Work in process inventory, Dec. 31, 2016		50,700
Finished goods inventory, Dec. 31, 2016		66,700
Raw materials purchases		177,300
Direct labor		232,000
Factory computer supplies used		18,700
Indirect labor		44,000
RepairsFactory equipment		5,250
Rent cost of factory building		58,000
Advertising expense		97,000
General and administrative expenses		125,000
Raw materials inventory, Dec. 31, 2017		42,100
Work in process inventory, Dec. 31, 2017		38,200
Finished goods inventory, Dec. 31, 2017		71,700

Exercise 18-14 Income statement preparation LO P2

Prepare an income statement for Delray Mfg. (a manufacturer).