Question

Required information Use the following information for the Exercises belovw 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 $ 12,400 17,600 11,300 33,500 24,200 21,650 23,200 6,700 10,350 8,200 23,000 2,350 6,620 35,500 53,200 241,530 24,000 252,500 13,800 Pepper Company $ 19,150 23,100 14,700 26,350 38,600 16,000 18,000 7,400 14,500 4,200 57,000 7,780 3,050 54,500 54,700 317,510 23,200 169,825 23,700

Answer 1

Ans.1	Schedule of Cost Of Goods Manufactured & Sold
	For the Year Ended December 31, 2017
	Particulars	GARCON COMPANY		PEPPER COMPANY
	Direct materials:
	Beginning raw material inventory	11300		14700
	Add: Purchase of raw material	35500		54500
	Cost of materials available	46800		69200
	Less: Ending raw material inventory	-6700		-7400
	Direct materials used (a)		40100		61800
	Direct labor (b)		24200		38600
	Factory overheads:
	Rental cost on factory equipment	33500		26350
	Factory utilities	10350		14500
	Factory supplies used	8200		4200
	Indirect labor	2350		7780
	Repairs- Factory equipment	6620		3050
	Total factory overhead cost ©	61020		55880
	Total manufacturing cost (a+b+c)		125320		156280
	Add: Beginning work in process inventory		17600		23100
	Total cost of work in process		142920		179380
	Less: Ending work in process inventory		-23200		-18000
	Cost of Goods Manufactured		119720		161380
Ans.2	Schedule of Cost Of Goods Sold
	For the Year Ended December 31, 2017
	Particulars	GARCON COMPANY		PEPPER COMPANY
	Cost of Goods Manufactured	119720		161380
	Add: Beginning finished goods inventory	12400		19150
	Cost of goods available for sale	132120		180530
	less: Ending finished goods inventory	-21650		-16000
	Cost of goods sold	110470		164530