Question

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 Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventor 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 13,700 15,800 10,800 34,500 23,400 21,650 24,100 7,700 13,500 10,000 25,500 2,250 7,460 47,500 54,800 222,030 20,000 262,500 16,400 Pepper Company 16,450 22,650 13,350 23,650 35,400 15,500 22,000 9,600 15,500 5, 800 43,500 9,400 2,000 62,000 55,900 335,010 22,700 157,825 22,700 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, 2017 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2017

Answer 1

Cost of Goods Manufactured
	Garcon Company	Pepper Company
Direct Material
Beginning raw material Inventory	$     10,800.00	$        13,350.00
Add: Raw material Purchases	$     47,500.00	$        62,000.00
Raw material Available for use	$     58,300.00	$        75,350.00
Less: Ending Raw material Inventory	$       7,700.00	$          9,600.00
Material Used in Production	$     50,600.00	$        65,750.00
Direct labor	$     23,400.00	$        35,400.00
Manufacturing Overheads
Rental cost of Factory Equipment	$     34,500.00	$        23,650.00
Factory Utilities	$     13,500.00	$        15,500.00
Factory Supplies Used	$     10,000.00	$          5,800.00
Indirect Labor	$       2,250.00	$          9,400.00
Repairs-Factory equipment	$       7,460.00	$          2,000.00
Total Factory Overheads	$     67,710.00	$        56,350.00
Total manufacturing Cost	$ 1,41,710.00	$    1,57,500.00
Add: Beginning Work in Process	$     15,800.00	$        22,650.00
Total Cost of Work in Process	$ 1,57,510.00	$    1,80,150.00
Less: Ending Work in progress	$     24,100.00	$        22,000.00
Cost of Goods Manufactured	$ 1,33,410.00	$    1,58,150.00

Cost of Goods Sold
	Garcon Company	Pepper Company
Beginning Finished Inventory	$     13,700.00	$        16,450.00
Add: Cost of Goods manufactured	$ 1,33,410.00	$    1,58,150.00
Cost of Goods Available for sale	$ 1,47,110.00	$    1,74,600.00
Less: Ending Finished Goods Inventory	$     21,650.00	$        15,500.00
Cost of Goods sold	$ 1,25,460.00	$    1,59,100.00