Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The problem is very long, sorry I had to take it in so many screenshots Required Information [The following information applies to the questions displayed
The problem is very long, sorry I had to take it in so many screenshots
Required Information [The following information applies to the questions displayed below.] The following date is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 14,700 17,800 9.200 29,750 23,400 20,150 23.202 7,892 11,252 21,500 14,722 5,78 41,500 54,800 285, 432 27, 16,620 Pepper Company $ 17,650 21,200 11.100 25,750 39,000 15,000 18,800 9,800 17,250 44.000 14,00 3.350 68,000 51,100 374,680 15,700 22,200 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31 2 Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31 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. Garcon Company Pepper Company Direct materials Raw materials inventory beginning Add: Raw materials purchases Raw materials available for use Less: Raw materials inventory, ending Direct materials used Direct labor Factory Overhead Rental cost on factory equipment Factory utilities 9,200 $ 41,500 50,700 7,000 43,700 23,400 11.100 60.000 71,100 9,800 61,300 39,000 29,750 11,250 25.750 17.250 5,780 46,780 3.350 46.350 Indirect labor Repairs --Factory equipment Total factory overhead Total manufacturing costs Add: Work in process inventory beginning Total cost of work in process Less: Work in process inventory, ending Cast of goods manufactured 0 0 S 0 S Required 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. Garcon Company Pepper Company Goods available for sale Cast of goods sold Required Information [The following information applies to the questions displayed below.] The following date is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 14,700 17.800 9.200 29,750 23,400 20.15 23,200 7,690 11,250 21.See 14,70 5,790 41.50 54,80 285,480 27.00 16.ee Pepper Company $ 17,650 21.00 11.100 25,750 39.000 15.00 18,00 9,800 17,250 44.000 14.BE 3,350 60.ee 51,100 374,680 15,70e 22,200 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY come Statement For Year Ended December 31 Cast of goods sold: Goods available for sale Cost of goods sold Req 1 Garcon Req 1 Pepper > Reg 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cast of goods sold: Goods available for sale Cost of goods sold Net income Req 1 Garcon Req 1 Pepper Rey 2 Garcon Rey 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets Req 1 Garcon Req 1 Pepper Rey 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total conversion costs for both Garcon Company and Pepper Company Garcon Company Pepper Company Total conversion costsStep 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