Question

the following data is provided for garcon company and pepper company

diyurIIL 2015 Check my work Required information 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 materiale 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 $ 12,600 15,500 7.300 32,250 23, 800 21,200 25,300 7,800 12,000 9,700 24,000 2,250 6,260 46,500 64,400 219,030 29,000 277,500 15,400 Pepper Company $ 19,600 20,700 11,700 24,250 42,600 14,400 20,600 8,800 15,750 3,700 52,000 9,940 3,650 67,500 54,700 340,010 24,700 139,825 23,950 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.

Answer 1

solution: Part 1: GARCON COMPANY PEPPER COMPANY 7300 46500 53800 7800 46000 23800 11700 67500 79200 8800 70400 42600 Direct material: Beginning raw materials inventory Add: Raw material purchases Raw material available for use Less: Ending raw materials inventory Raw materials used in production Direct Labor Factory overhead Rental cost of factory equipment Factory utilities Factory supplies used Indirect labor Repair - factory equipment Total Factory overhead Total manufacturing costs Add : Beginning work in process inventory sub total Deduct: Ending work in process inventory Cost of goods manufactured 32250 12000 9700 2250 6260 62460 132260 15500 147760 25300 122460 24250 15750 3700 9940 3650 57290 170290 20700 190990 20600 170390 Part 2: Beginning finished goods inventory Add: Cost of goods manufactured Cost of Goods available for sale Deduct: Ending finished goods inventory Cost of goods sold GARCON COMPANY PEPPER COMPANY 12600 19600 122460 170390 135060 189990 25300 20600 109760 169390

Garcon Company Pepper Company Direct material: Beginning raw materials inventory Add: Raw material purchases Raw material available for use Less: Ending raw materials inventory Raw materials used in production Direct Labor Total prime costs 7300 46500 53800 7800 46000 23800 69800 11700 67500 79200 8800 70400 42600 113000 Garcon Company Pepper Company 23800 42600 Direct Labor Factory overhead Rental cost of factory equipment Factory utilities Factory supplies used Indirect labor Repair - factory equipment Total Factory overhead Total conversion costs 32250 12000 9700 2250 6260 62460 148720 24250 15750 3700 9940 3650 57290 157180