Complete the table using the same formate in the picture provided to calculate t

Question

Complete the table using the same formate in the picture provided to calculate the cost of goods manufactured by both Garcia company and culpepper company.. Questions 11-12 (o The following information applies to the questions displayed below] Using the folowing dets Garcia Company Company Beginning finished goods inventory Beginning goods in process inventory Beginning rew mateniais inventory Rental cost on factory equipment Direct lator Ending finished goods inventory Ending goods in process inventory Ending raw materials inventory Factory uiises Factory supplies used Generl and soministrative expenses ndirect lsbor Repsirs-Fsctory equipment Raw materiais purcheses Ssles seleares 17000 $14,000 20,500 10,000 28,000 000 19,000 9,000 23,000 40,000 13,500 19,000 9,400 19,000 2,600 53,000 7660 1,500 50,000 28000 13,000 24,500 23,000 8,000 10,000 9,300 21,000 1250 4780 37000 50,000 49,000 1. 10.00 points 1, Congete te teion taie to calouiate the cost of goods manufactured for both Garcia Co CApepper Company Garcia Company Culpe Company

Explanation / Answer

Garcia Company Cukpepper company Direct materials Beginning rawmaterial inventory $10,000 $9,000 Add: Rawmaterials purchased 37,000 50,000 Rawmaterials available for use $47,000 $59,000 Less: ending rawmaterial inventory (8,000) (9,400) Direct materials used $39,000 $49,600 Direct labour $19,000 $40,000 Factory overheads Rental cost of factory equipment $28,000 $23,000 Factory utilities $10,000 $19,000 Factory supplies used $9,300 $2,600 Indirect labour $1.250 $7,660 Repires on factory equipments $4,780 $1,500 Total factory overheads $53,330 $53,760 Total manufacturing cost $111,330 $143,360 Add beginning good in process inventory $20,500 $19,000 Total cost of goods in process $131,830 $162,360 Less ending goods in process inventory $29,000 $19,000 Cost of goods manufactured $102,830 $143,360

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