Question

The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning...

The following data is provided for Garcon Company and Pepper Company.

Garcon Company Pepper Company
Beginning finished goods inventory $ 14,900 $ 17,350
Beginning work in process inventory 18,700 20,850
Beginning raw materials inventory 11,000 10,950
Rental cost on factory equipment 27,250 26,950
Direct labor 22,800 43,800
Ending finished goods inventory 17,000 16,300
Ending work in process inventory 25,000 20,400
Ending raw materials inventory 6,800 7,400
Factory utilities 10,500 17,250
Factory supplies used 13,600 4,700
General and administrative expenses 29,000 50,000
Indirect labor 1,650 7,720
Repairs—Factory equipment 6,860 1,750
Raw materials purchases 43,500 66,500
Selling expenses 63,600 58,000
Sales 225,030 320,010
Cash 28,000 22,700
Factory equipment, net 247,500 145,825
Accounts receivable, net 13,400 20,200

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.

Homework Answers

Answer #1

Solution

Cost of Goods Manufactured
Garcon Company Pepper Company
Direct Material
Beginning raw material Inventory $     11,000.00 $        10,950.00
Add: Raw material Purchases $     43,500.00 $        66,500.00
Raw material Availabale for use $     54,500.00 $        77,450.00
Less: Ending Raw material Inventory $       6,800.00 $          7,400.00
Material Used in Production $     47,700.00 $        70,050.00
Direct labor $     22,800.00 $        43,800.00
Manufacturing Overheads
Rental cost of Factory Equipment $     27,250.00 $        26,950.00
Factory Utilities $     10,500.00 $        17,250.00
Factory Supplies Used $     13,600.00 $          4,700.00
Indirect Labor $       1,650.00 $          7,720.00
Repairs-Factory Equipments $       6,860.00 $          1,750.00
Total Factory Overheads $     59,860.00 $        58,370.00
Total manufacturing Cost $   130,360.00 $     172,220.00
Add: Beginning Work in Progress $     18,700.00 $        20,850.00
Total Cost of Work in Progress $   149,060.00 $     193,070.00
Less: Ending Work in progress $     25,000.00 $        20,400.00
Cost of Goods Manufactured $   124,060.00 $     172,670.00

..

Cost of Good Sold
Garcon Company Pepper Company
Beginning Finished Inventory $     14,900.00 $        17,350.00
Add: Cost of Goods manufactured $   124,060.00 $     172,670.00
Cost of Goods Available for sale $   138,960.00 $     190,020.00
Less: Ending Finisged Goods Inventory $     17,000.00 $        16,300.00
Cost of Goods sold $   121,960.00 $     173,720.00
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
[The following information applies to the questions displayed below.] The following data is provided for Garcon...
[The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning finished goods inventory $ 13,800 $ 16,000 Beginning work in process inventory 17,300 23,400 Beginning raw materials inventory (direct materials) 8,100 10,500 Rental cost on factory equipment 28,750 24,250 Direct labor 21,000 36,200 Ending finished goods inventory 20,300 16,000 Ending work in process inventory 22,300 17,000 Ending raw materials inventory 6,600 9,400 Factory utilities 12,150...
Required: 1. Complete the table to find the cost of goods manufactured for both Garcon Company...
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. Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning finished goods...
The following data have been provided from the Morgan Manufacturing Company for the most recent period:...
The following data have been provided from the Morgan Manufacturing Company for the most recent period: Sales................................................................................ $30,000 Purchases of raw materials.............................................. $9,000 Raw materials inventory, ending.................................... $1,050 Raw materials inventory, beginning $1,400 Utilities on factory……………………………………... $3,300 Direct labor..................................................................... $3,00 Administrative expense................................................... $2,000 Selling expenses.............................................................. $1,200 Work in process inventory, beginning............................ $900 Salary of factory Supervisor........................................... $4,500 Work in process inventory, ending................................. $1,200 Finished goods inventory, beginning.............................. $1,100 Finished goods inventory, ending................................... $1,300 Required: Calculate the cost of goods sold
The following selected account balances are provided for Delray Mfg. Sales $ 1,193,000 Raw materials inventory,...
The following selected account balances are provided for Delray Mfg. Sales $ 1,193,000 Raw materials inventory, beginning 45,000 Work in process inventory, beginning 51,700 Finished goods inventory, beginning 68,700 Raw materials purchases 160,000 Direct labor 241,000 Factory supplies used (indirect materials) 19,100 Indirect labor 40,000 Repairs—Factory equipment 5,250 Rent cost of factory building 57,000 Advertising expense 109,000 General and administrative expenses 126,000 Raw materials inventory, ending 42,900 Work in process inventory, ending 38,200 Finished goods inventory, ending 69,000 Prepare its...
The following selected account balances are provided for Delray Mfg. Sales $ 1,472,000 Raw materials inventory,...
The following selected account balances are provided for Delray Mfg. Sales $ 1,472,000 Raw materials inventory, beginning 36,000 Work in process inventory, beginning 57,200 Finished goods inventory, beginning 68,000 Raw materials purchases 176,300 Direct labor 238,000 Factory supplies used (indirect materials) 21,600 Indirect labor 55,000 Repairs—Factory equipment 5,250 Rent cost of factory building 53,000 Advertising expense 98,000 General and administrative expenses 140,000 Raw materials inventory, ending 48,000 Work in process inventory, ending 45,200 Finished goods inventory, ending 65,100 Prepare an...
The following selected account balances are provided for Delray Mfg. Sales $ 1,220,000 Raw materials inventory,...
The following selected account balances are provided for Delray Mfg. Sales $ 1,220,000 Raw materials inventory, beginning 41,000 Work in process inventory, beginning 57,800 Finished goods inventory, beginning 63,900 Raw materials purchases 199,900 Direct labor 232,000 Factory supplies used (indirect materials) 23,700 Indirect labor 48,000 Repairs—Factory equipment 5,250 Rent cost of factory building 54,000 Advertising expense 110,000 General and administrative expenses 140,000 Raw materials inventory, ending 40,000 Work in process inventory, ending 42,200 Finished goods inventory, ending 72,300 Prepare an...
Exercise 15-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data...
Exercise 15-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017. Inventory Beginning Ending Raw materials $9,460 $14,020 Work in process 6,380 8,070 Finished goods 9,350 6,960 Costs incurred: raw materials purchases $56,410, direct labor $50,600, manufacturing overhead $23,980. The specific overhead costs were: indirect labor $6,520, factory insurance $4,810, machinery depreciation $4,590, machinery repairs $2,330, factory utilities $3,910, and miscellaneous factory costs $1,820. Assume that all raw...
Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,308,000 Raw...
Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,308,000 Raw materials inventory, beginning 44,000 Work in process inventory, beginning 56,500 Finished goods inventory, beginning 68,100 Raw materials purchases 158,500 Direct labor 247,000 Factory supplies used (indirect materials) 23,600 Indirect labor 45,000 Repairs—Factory equipment 5,250 Rent cost of factory building 58,000 Advertising expense 110,000 General and administrative expenses 135,000 Raw materials inventory, ending 45,900 Work in process inventory, ending 47,400 Finished goods inventory, ending 65,900...
Basil Industries reported the following information for December: Beginning balance, Raw Materials Inventory $187,500 Beginning balance,...
Basil Industries reported the following information for December: Beginning balance, Raw Materials Inventory $187,500 Beginning balance, Work in process Inventory 300,000 Beginning balance, Finished Goods Inventory 106,250 Purchases of raw materials 337,500 Factory electricity 62,500 Direct labor payroll 200,000 Depreciation on factory equipment 218,750 Insurance on factory building 50,000 Indirect materials used in production 43,750 Total raw materials used in production 406,250 Indirect labor payroll 150,000 Cost of goods manufactured 1,250,000 Cost of goods sold 1,312,500 What was the ending...
Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,250,000 Raw...
Required information The following selected account balances are provided for Delray Mfg. Sales $ 1,250,000 Raw materials inventory, Dec. 31, 2016 37,000 Work in process inventory, Dec. 31, 2016 53,900 Finished goods inventory, Dec. 31, 2016 62,750 Raw materials purchases 175,600 Direct labor 225,000 Factory computer supplies used 17,840 Indirect labor 47,000 Repairs—Factory equipment 5,250 Rent cost of factory building 57,000 Advertising expense 94,000 General and administrative expenses 129,300 Raw materials inventory, Dec. 31, 2017 42,700 Work in process inventory,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT