Question

He Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate con 2 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. olnts 02:03:25 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 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. Garcon Company Pepper Company Cost of goods available for sale Cost of goods sold $ 0 < Required 1 Mc Graw Hill < Prev 2 of 2 Next

Answer 1

Answer-

Solution:(1).   Calculation of cost of goods manufactured:

Particulars	Garcon Co. ($)	Pepper Co. ($)
Direct materials
Beginning raw materials inventory	8,500	9,900
Add: Raw materials Purchased	35,000	53,500
Raw materials available for use	43,500	63,400
Less: Ending raw materials inventory	5,900	9,800
Direct materials used(a)	37,600	53,600
Direct labor(b)	24,400	37,000
Factory overhead
Rental cost on factory equipment	30,500	22,300
Factory utilities	12,450	12,750
Factory supplies used	13,600	5,900
Indirect labor	1,850	8,260
Repairs factory equipment	5,420	1,700
Total factory overhead(c)	63,820	49,910
Total Manufacturing cost(a+b+c=d)	125,820	140,510
Add: Beginning work in progress inventory(e)	15,800	20,100
Total cost of work in process(d+e=f)	141,620	160,610
Less: Ending work in progress inventory (g)	23,200	18,200
Cost of goods manufactured (f-g)	164,820	142,410

Solution:(2). Calculation of cost of goods sold:

Particulars	Garcon Co. ($)	Pepper Co. ($)
Beginning finished goods Inventory	14,800	17,650
Add: Cost of goods manufactured	164,820	142,410
Cost of goods available for sale	179,620	160,060
Less: Ending finished goods Inventory	19,250	16,800
Cost of goods sold	160,370	143,260