Question

[The following information applies to the questions displayed below. Using the following data, 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 $ 12,000 14.500 7,250 27.000 19,000 17,650 22.000 5,300 9,000 8.200 21,000 1,250 4.780 33.000 50,000 195,030 20,000 212,500 13,200 Pepper Company $ 16,450 19.950 9,000 22,750 35,000 13.300 16.000 7,200 12.000 3.200 43,000 7,660 1,500 52.000 46,000 290.010 15,700 115,825 19,450

Answer 1

Schedule Cost of goods Manufactured Schedule Garcon Company pepper company Direct Material: Raw Material inventory beginning $ 7,250 $ 9,000 Add: Raw materials purchases 33,000 52,000 Raw materials available 40.250 $ 61,000 Less: Raw materials inventory Ending 5,300 $ 7,200 Direct Materials Used 34,950 $ 53,800 Cost of Direct Labour 19,000 $ 35,000 Factory Overhead Rental cost on factory equipment 27,000 $ 22,750 Factory utilities 9,000 $ 12,000 Factory supplies used 8,200 $ 3,200 Indirect Labor 1,250 $ 7,660 Repairs -Factory equipment 4,780 1,500 Total Factory overhead 50,230 $ 47,110 Total Manufacturing Costs 104,180 $ 135,910 Add: Beginning work in process 14,500 $ 19.950 Total Cost of Goods in Process 118,680 $ 155,860 Less: Ending work in process 22,000 $ 16,000 Cost of goods Manufactured 96,680S 139,860 Schedule Cost of goods Sold Garcon Company Pepper Company Finished goods inventory, Beginning | $ 12,000 $ 16,450 Add: Cost of Goods manufactured $ 96,680 $ 139,860 Cost of goods available for sale $ 108,680 $ 156,310 Less: Finished goods inventory, Ending $ 17,650 $ 13,300 Cost of Goods Sold 91,030 $ 143,010