Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(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
(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 $ 12,700 18,500 7,900 27,500 19,400 17,600 22,600 5,600 11,700 9,100 21,500 2,250 5,300 34,500 60,800 225,030 30,000 257,500 14,200 Pepper Company $ 18,100 21,000 12,450 23,950 37,400 15,400 16,600 9,200 13,250 4,700 50,000 9,220 2,850 65,000 48,400 317,510 23,700 139,825 21,200 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. Required information 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 Beginning raw materials inventory Add: Raw materials purchases Raw materials available for use 7,900 34,500 42,400 5,600 36,800 19,400 12,450 65,000 77,450 9,200 68,250 37,400 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 27,500 11,700 9,100 2,250 5,300 23,950 13,250 4.700 9,220 2,850 55,850 53,970 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 0 0 0 $ 0 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. Garcon Company Pepper Company Cost of goods available for sale Cost of goods sold $ 0 $ 0 Required 1 Required 2 >
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started