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. Pepper Company Garcon Company Beginning finished goods inventory Beginning work in process inventory $ 18,100 $ 14,900 21,150 16,600 Beginning raw materials inventory Rental cost on factory equipment Direct labor 10,200 7,400 31,250 25,900 23,200 17,900 42, 200 16, 200 Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative 27,700 21,400 9,600 17,500 4,100 6,700 9,300 11,200 48,000 23,000 expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales 1,600 5,900 43,500 55,200 207,030 30,e00 237,500 14,e00 9,280 2,700 68,500 46,300 302,510 18,700 127,825 20,450 Cash Factory equipment, net Accounts receivable, net

Answer 1

Please find attached table showing cost of goods manufactured and cost of goods sold:

Garcon Pepper Description Company Company Ref Direct Material Raw Materials (Opening balance) 7,400 10,200 A Add: Purchases 43,500 68,500 B Raw Material available for use 50,900 78,700 C=A+B Less: Raw Material (closing balance) 6,700 9,600 D Materials Consumed 44,200 69,100 E=C-D Direct Labor 23,200 42,200 F Factory Overhead: Rental cost of factory equipment 31,250 25,900 G Factory Utilities 9,300 17,500 Factory supplies used 11,200 4,100 Indirect Labor 1,600 9,280) Repairs factory equipment 5,900 2,700 Add: Work In Process Opening Balance) 16,600 21,150 L Total Factory Overhead 75,850 80,630 M=G+H+1+J+K+L Total Manufacturing Cost 1,43,250 1,91,930 N=E+F+M Less: Work-in-Process (Closing Balance) 27,700 21,400 O Total cost of work in process 1,15,550 1,70,530 PEN-O General and administrative expenses 23,000 48,000Q Cost of Goods Manufactured 1,38,550 2,18,530 R=P+Q Description Cost of goods manufactured Add: Finished Goods (Opening Balance) Cost of goods available for sale Less: Finished Goods (closing Balance) Total cost or Cost of Goods sold Garcon Pepper Company Company Ref 1,38,550 2,18,530 R 14,900 18,100 S 1,53,450 2,36,630 (T=R+S 17,900 16,200 U 1,35,550 2,20,430T-U