Question
#13 (a)

Garcon Company $ 14,900 Pepper Company $ 18,850 Part 2 of 2 17,400 21,300 9,900 10,200 0.46 points eBook Print References Beg
Req 1A Garcon Req 1A Pepper Req 18 Garcon Req 1B Pepper Prepare the income statement for Garcon Company. ences GARCON COMPANY
0.46 points Complete this question by entering your answers in the tabs below. Req 1A Pepper Req 1A Garcon Req 1A PepperReq 1
0 0
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Answer #1
Garcon company
Income Statement
Sales 238,530
less:Cost of goods sold 120,240
Gross Profit 118,290
Operating expense
General & administrative expense 31,000
Selling expense 52,800
Income (loss)before tax 34,490
                                       Pepper company
                           Income Statement                     
Sales 300,010
less:Cost of goods sold 161,490
Gross Profit 138,520
Operating expense
General & administrative expense 51,500
Selling expense 52,900
Income (loss)before tax 34,120

working notes

Required 1
Garcon Pepper
company Company
Direct Materials
Beginning raw materials inventory 9,900 10,200
Raw materials purchases 46,000 59,500
Raw materials available for use 55,900 69,700
Ending raw materials inventory 6,900 8,800
Direct materials used 49,000 60,900
Direct labor 21,600 37,000
Factory overhead
Rental cost on factory equipment 33,500 22,750
Factory utilities 12,000 17,750
Factory supplies used 12,400 4,200
Indirect labor 1,300 9,940
Repairs- factory equipment 5,540 3,500
Total factory overhead 64,740 58,140
total manufacturing costs 135,340 156,040
Add:Beginning work in process 17,400 21,300
total cost of WIP 152,740 177,340
less:Ending work in process inventory 26,200 19400
Cost of goods manufactured 126,540 157,940
Garcon Pepper
Company Company
Beginning finished goods inventory 14,900 18,850
Add:Cost of goods manufactured 126,540 157,940
Cost of goods available for sale 141,440 176,790
less:Ending finished goods inventory 21,200 15,300
Cost of goods sold 120,240 161,490
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