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 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, net Accounts receivable, net Garcon Company $ 12,600 17,300 11,100 32,000 21,200 17,000 24,400 6, 200 9,750 9,100 34,500 2,100 6,020 44,500 51,600 234,030 32,000 247,500 14,000 Pepper Company $ 18,100 23,250 10,650 23,800 41,000 16,500 21,800 7,400 17,500 4,800 57,500 7,720 2,650 52,000 50,800 337,510 16,200 130,825 24,200 Required: 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for th December 31, 2017 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the y December 31, 2017

Answer 1

		Garcon Company	Pepper Company
	Direct materials
	Beginning raw materials inventory	11,100	10,650
	Add: Raw materials purchases	44,500	52,000
	Raw materials available for use	55,600	62,650
	Less: Ending raw materials inventory	6,200	7,400
	Direct materials used	49,400	55,250
	Direct labor	21,200	41,000
	Factory overhead
	Rental cost on factory equipment	32,000	23,800
	Factory utilities	9,750	17,500
	Factory supplies used	9,100	4,800
	Indirect labor	2,100	7,720
	Repairs—Factory equipment	6,020	2,650
	Total factory overhead	58,970	56,470
	Total manufacturing costs	129,570	152,720
	Add: Beginning goods in process inventory	17,300	23,250
	Total cost of goods in process	146,870	175,970
	Less: Ending goods in process inventory	24,400	21,800
	Cost of goods manufactured	122,470	154,170
Req 2		Garcon Company	Pepper Company
	Beginning finished goods inventory	12,600	18,100
	Add: Cost of goods manufactured	122,470	154,170
	Cost of goods available for sale	135,070	172,270
	Less: Ending finished goods inventory	17,000	16,500
	Cost of goods sold	118,070	155,770

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