The following data is provided for Garcon Company and Pepper Company Beginning f

Question

The following data is provided for Garcon Company and Pepper Company Beginning finished goods inven Beginning work in process inventor 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 Factory equipment, net Accounts receivable, net Garcon Company $ 13,000 16,200 11,600 34,750 22,200 18,800 22,300 7,000 14,400 13,600 25,500 1,750 7,580 40,500 57,600 204,030 20,000 247,500 16,200 Pepper Company $ 18,400e 21,450 9,600 23,050 35,800 15,800 17,000 9,000 12,500 3,800 43,500 8,560 3,350 63,500 51,700 345,01e 21,700 166,825 23,200 tor

Explanation / Answer

Solution:(1).   Calculation of cost of goods manufactured:

Solution:(2). Calculation of cost of goods sold:

Particulars Garcon Co. ($) Pepper Co. ($) Direct materials Beginning raw materials inventory 11,600 9,600 Add: Raw materials Purchased 40,500 63,500 Raw materials available for use 52,100 73,100 Less: Ending raw materials inventory 7,000 9,000 Direct materials used(a) 45,100 64,100 Direct labor(b) 22,200 35,800 Factory overhead Rental cost on factory equipment 34,750 23,050 Factory utilities 14,400 12,500 Factory supplies used 13,600 3,800 Indirect labor 1,750 8,560 Repairs factory equipment 7,580 3,350 Total factory overhead(c) 72,080 51,260 Total Manufacturing cost(a+b+c=d) 139,380 151,160 Add: Beginning work in progress inventory(e) 16,200 21,450 Total cost of work in process(d+e=f) 155,580 172,610 Less: Ending work in progress inventory (g) 22,300 17,000 Cost of goods manufactured (f-g) 133,280 155,610

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