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
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 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 $ 13,000 18,100 7,400 29,500 19,400 21,200 23,800 6,600 11,550 9,700 31,000 2,350 6,260 47,500 50,400 238,530 34,000 267,500 15,800 Pepper Company $ 18,700 23,550 9,450 22,300 41,400 15,800 17,600 10,000 14,750 3,600 56,000 8,500 3,000 59,000 50,500 312,510 18,200 127,825 19,700 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 Beginning finished goods inventory $ 13,000 Raw materials available for use 13.000 0 Direct materials used 13,000 0 Factory overhead Total factory overhead Total manufacturing costs 0 0 Total cost of work in process 0 0 Cost of coods manufactured $ 0 $ 0 Garcon Company Pepper Company Cost of goods available for sale Cost of goods sold LA $ 0 $ 0 Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2017 0 Operating expenses Income (loss) before tax $ 0 Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2017 0 Operating expenses Income (loss) before tax $ 0

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

Integrated Audit Practice Case

Authors: David S. Kerr, Randal J. Elder, Alvin A. Arens

7th Edition

0912503688, 978-0912503684

More Books

Students also viewed these Accounting questions

Question

Assess the requirements for strategic LMD

Answered: 1 week ago

Question

How can e-learning benefit organizations and individuals?

Answered: 1 week ago