Question

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

	Garcon Company					Pepper Company
Beginning finished goods inventory		$	14,500			$	16,300
Beginning work in process inventory			15,900				19,650
Beginning raw materials inventory			10,500				14,400
Rental cost on factory equipment			28,750				26,500
Direct labor			25,000				42,600
Ending finished goods inventory			20,000				13,000
Ending work in process inventory			23,500				19,600
Ending raw materials inventory			7,200				8,800
Factory utilities			9,150				12,250
Factory supplies used			11,500				5,400
General and administrative expenses			32,500				44,500
Indirect labor			2,350				7,960
Repairs—Factory equipment			6,140				2,600
Raw materials purchases			37,000				59,000
Selling expenses			62,800				58,600
Sales			213,030				340,010
Cash			29,000				15,700
Factory equipment, net			232,500				127,825
Accounts receivable, net			13,800				21,700

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.

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 factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured

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

1.

Schedule of Cost of Goods Manufactured
	Garcon Company	Pepper Company
Direct materials:
Beginning raw material inventory	10,500	14,400
Raw materials purchases	37,000	59,000
Raw materials available for use	47,500	73,400
Ending raw material inventory	-7,200	-8,800
Direct materials used	40,300	64,600
Direct labor	25,000	42,600
Factory overhead:
Rental cost on factory equipment	28,750	26,500
Factory - Utilities	9,150	12,250
Factory supplies used	11,500	5,400
Indirect labor	2,350	7,960
Repairs factory equipment	6,140	2,600
Total factory overhead	123,190	161,910
Beginning work in process inventory	15,900	19,650
Total manufacturing costs	139,090	181,560
Ending work in process inventory	-23,500	-19,600
Cost of goods manufactured	115,590	161,960

2.

Schedule of Cost of Goods Sold
	Garcon Company	Pepper Company
Beginning finished goods inventory	14,500	16,300
Cost of goods manufactured	115,590	161,960
Cost of goods available for sale	130,090	178,260
Ending finished goods inventory	-20,000	-13,000
Cost of goods sold	110,090	165,260

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