Question

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Exercise 1-9 Prepare financial statements for a manufacturer LO C4, P2 sing the following data, Pepper Company Garcon Company $ 13,500 10,200 11,100 $ 19,750 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, not Accounts receivable. net TESNEN 11.50 47000 7.780 26.000 2,350 6,140 42,500 60.000 198,030 32,000 282,500 14.800 *38383 1Prepare come sements for women to come PEPPER COMPANY income For Year Ended December 31, 2015 GARCON COMPANY Incones For Year Ended December 31, 2015 WE boss belove Prepare the cofthe balance sheet forth GARCON COMPANY As of December 2015 As of December 31, 2018

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Answer 1

pode-01 Goon Peppers 11100 11100 42500 54000 G900 10,000 47400 «фосося. calculating cost of goode manufactured and cost & goods sold. cost of goods_manufactured_ company company Direet materials Beginning aaw material inventory raw material purchases Ladd) Ending raw materials inventory (less) Dizel materials 55100 Dixent labor 24.900 factory overhead -Andirect labowy 4480 - factory supplies factory utilities 11550 13750 Rental cost on fautely equipment 99900 Repairs - factély equipment 6140 Tobal manufarfwing costs 147680 beginning wip inventory ( Add) 83/00 Ending wip inventory (less) 32900 16800 cost of goods manufactured . 124440153980. 39400 2350 11500 4800 28000 3950 (3140

company 124440 14600 59130 page: 02. Garcon pepper cost of goods sold company Beginning finéshed goods inventory 13.500 19450 cost of good manufactured (Add) 153980 cost & goods available for sale. 137940 173130 Ending finéshed goods Provestety Cles) 17300 Lcost of goods sold 120640 Required Il-a prepare income statement for both Garcon company & pepper company Income statement for Gorcon company __for the year ended 31 Dec 2017 sales 198030 Cost 4 goods sold (les) Gross profit 77390 epercating expenses General and admin esps 26000 selling exps. 60,000 income Closs) befoie tax. - 8610 120640

page: 0.3 159130. Income statement for pepper company - Jäthe year ended 21.dec. Qolt: sales 332510 Cost of goods sold (less) Gross profit 173380 operating expenses Geosyal Ludmine sponses Selling expenses I income closs) before tax lub partial balance sheet. 47000 58000 68380 Garcon company partial balance sheet As on 31, Decgolf eash 32000 14800 Accounts receivable investonics Raw materials 6200 ulp 22960 17300 46400 Ionished goods Lobal coussent assets 93900

page 204 and are not comme Peppey Company partial balance sheet As on 31 decydolt. cash : 20900 22950 10,000 Accounts receivable inventories Raw materials Wip linished goods Total current Assets 16800 L 14600 41400 84550.