Question

Required information

Use the following information for the Exercises below.

[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		$	12,100			$	17,950
Beginning work in process inventory			19,000				23,100
Beginning raw materials inventory			11,700				10,050
Rental cost on factory equipment			28,750				25,900
Direct labor			20,600				37,400
Ending finished goods inventory			20,600				13,100
Ending work in process inventory			22,900				21,600
Ending raw materials inventory			6,800				9,200
Factory utilities			10,650				14,000
Factory supplies used			11,500				5,100
General and administrative expenses			31,500				56,000
Indirect labor			2,350				8,680
Repairs—Factory equipment			7,340				3,750
Raw materials purchases			37,000				63,500
Selling expenses			57,200				48,100
Sales			204,030				327,510
Cash			22,000				21,700
Factory equipment, net			232,500				148,825
Accounts receivable, net			15,800				24,950
Exercise 14-8 Cost of goods manufactured and cost of goods sold computation LO P1, P2 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 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.

	Garcon Company Pepper Company Direct materials Raw materials available for use 0 0 Direct materials used 0 0 Factory overhead Total factory overhead 0 0 Total manufacturing costs Total cost of work in process 0 0 Cost of goods manufactured $0 $0

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, 2017.

	Garcon Company Pepper Company Cost of goods available for sale Cost of goods sold $0 $0

Answer 1

				Garcon	Pepper
				Company	Company
Direct Materials:
Beginning raw materials inventory				11,700	10,050
Raw material purchased				37,000	63,500
Raw materials available for use				48,700	73,550
less:ending raw materials inventory				6,800	9,200
Direct materials used				41,900	64,350
Direct labor				20,600	37,400
Factory overhead
Rental cost on factory Equipment				28,750	25,900
Factory utilities				10,650	14,000
Factory supplies used				11,500	5,100
indirect labor				2,350	8,680
Repairs-factory equipment				7,340	3,750
total factory overhead				60,590	57,430
total manufacturing cost				123,090	159,180
Add:Beginning work in process inventory				19,000	23,100
total cost of work in process				142,090	182,280
less:Ending work in process inventory				22,900	21,600
cost of goods manufactured				119,190	160,680
				Garcon	Pepper
				Company	Company
Beginning finisehd goods inventory				12,100	17,950
cost of goods manufactured				119,190	160,680
cost of goods available for sale				131,290	178,630
less finished goods ivnentory				20,600	13,100
cost of goods sold				110,690	165,530