Question

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 Garcon Company $ 14,900 Pepper Company $ 18,180 16,689 21,150 7,400 10,200 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 31,250 23,200 17,980 27,700 6,700 9,300 11,200 23,000 1,600 5,980 43,500 55,200 207,830 30,000 237,500 14,000 25,900 42,200 16,200 21,400 9,600 17,500 4,100 48,000 9,280 2,700 68,500 46,300 302,518 18,780 127,825 20,450

it is complete question with all info. please look at it carefully

Answer 1

Garcon Company Pepper Company 7400 43500 50900 6700 44200 23200 10200 68500 78700 9600 69100 42200 Direct Materials Beginning Raw Materials Inventory Add: Raw Materials purchases Raw Materials available for use 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 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 Add: Beginning Finished Goods Inventory Cost of Goods Available for Sale Less: Ending Finished Goods Inventory Cost of Goods Sold 31250 9300 11200 1600 5900 59250 126650 16600 143250 27700 115550 14900 130450 17900 112550 25900 17500 4100 9280 2700 59480 170780 21150 191930 21400 170530 18100 188630 16200 172430 L

Answer 1-a:

GARCON COMPANY Income Statement For Year Ended December 31, 2017 Sales Less: Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses General and Administrative Expenses Income (loss) before tax 207030 112550 94480 55200 23000 16280 PEPPER COMPANY Income Statement For Year Ended December 31, 2017 Sales Less: Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses General and Administrative Expenses Income (loss) before tax 302510 172430 130080 46300 48000 35780

Answer 1-b:

30000 14000 GARCON COMPANY Partial Balance Sheet As of December 31, 2017 Cash Accounts Receivable, net Inventories Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Total Current Assets 6700 27700 17900 96300 18 700 20450 PEPPER COMPANY Partial Balance Sheet As of December 31, 2017 Cash Accounts Receivable, net Inventories Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Total Current Assets 9600 21400 16200 86350