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

Question

The following data is provided for Garcon Company and Pepper Company. Pepper ompany $ 16, 450 19, 950 9,000 22, 750 35, 000 13, 300 16,000 7,200 12,000 3, 200 43,000 7,660 1, 500 52,000 46,000 290,010 15, 700 115,825 19,450 Garcon Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash $ 12,000 14, 500 7,250 27,000 19,000 17, 650 22,000 5,300 9,000 8, 200 21,000 1, 250 4,780 33,000 50,000 195, 030 20,000 212,500 13, 200 Factory equipment, net Accounts receivable, net ercise 14-9 Preparing financial statements for a manufacturer L Prev 14 15 of 15

Explanation / Answer

33000

GARCON COMPANY

Income statement

for the year ended december 31 2017

Garcon company Beginning raw material inventory 7250 Raw material purchase

33000

less:ending rAw material inventory (5300) Raw material used 34950 Direct labor 19000 Factory overhead [27000rental+9000utilities+8200supplies+1250Indirect labor+4780repair] 50230 Total manufacturing cost 104180 Beginning work in process 14500 less:ending work in process (22000) Cost of goods manufactured 96680 beginning finished goods inventory 12000 less:ending finished goods inventory (17650) cost of goods sold 91030

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