Question

PART 2) The following data is provided for Garcon Company and Pepper Company.

	Garcon Company					Pepper Company
Beginning finished goods inventory		$	14,200			$	19,150
Beginning work in process inventory			16,900				22,500
Beginning raw materials inventory			9,700				13,950
Rental cost on factory equipment			32,750				22,900
Direct labor			21,400				43,000
Ending finished goods inventory			18,650				14,000
Ending work in process inventory			26,800				19,400
Ending raw materials inventory			7,300				7,600
Factory utilities			14,250				16,500
Factory supplies used			12,700				6,000
General and administrative expenses			32,500				59,500
Indirect labor			2,450				9,340
Repairs—Factory equipment			5,660				1,700
Raw materials purchases			35,500				55,500
Selling expenses			59,600				46,000
Sales			214,530				307,510
Cash			21,000				18,200
Factory equipment, net			262,500				163,825
Accounts receivable, net			14,800				24,950
2A) Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2017. Garcon Company Pepper Company Direct Materials                                                               Raw Materials Available for Use                     Direct Materials Used           Factory Overhead                                                                               Total Manufacturing Costs             Total Cost of Work in Process                      Cost of Goods Manufactured $ $ 2B). Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2017.             Garcon Company Pepper Company                                                          Cost of Goods Available for Sale                   Cost of Goods Sold $ $

Answer 1

	Garcon Company	Pepper Company
Direct materials
Beginning raw material inventory	$                        9,700	$                      13,950
Add: Raw materials purchased	$                      35,500	$                      55,500
Raw material available for use	$                      45,200	$                      69,450
Less: Ending raw material inventory	$                        7,300	$                         7,600
Direct material used	$                      37,900	$                      61,850
Direct labor	$                      21,400	$                      43,000
Factory overhead
Factory utilities	$                      14,250	$                      16,500
Rental cost on factory equipment	$                      32,750	$                      22,900
Factory supplies used	$                      12,700	$                         6,000
Indirect labor	$                        2,450	$                         9,340
Repairs - Factory equipment	$                        5,660	$                         1,700
Total manufacturing cost	$                   127,110	$                    161,290
Add: Beginning work in process inventory	$                      16,900	$                      22,500
Total cost of work in process	$                   144,010	$                    183,790
Less: Ending work in process inventory	$                      26,800	$                      19,400
Cost of goods manufactured	$                   117,210	$                    164,390
	Garcon Company	Pepper Company
Cost of goods manufactured	$                   117,210	$                    164,390
Add: Beginning finished goods inventory	$                      14,200	$                      19,150
Cost of goods available for sale	$                   131,410	$                    183,540
Less: Ending finished goods inventory	$                      18,650	$                      14,000
Cost of goods sold	$                   112,760	$                    169,540

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