Exercise 14-8 Cost of goods manufactured and cost of goods sold computation LO P1, P2

[The following information applies to the questions displayed below.]

Using the following data,

	Garcon Company					Pepper Company
Beginning finished goods inventory		$	9,000			$	23,500
Beginning work in process inventory			19,000				21,000
Beginning raw materials inventory			8,000				9,000
Rental cost on factory equipment			33,000				23,500
Direct labor			15,000				39,000
Ending finished goods inventory			19,500				16,000
Ending work in process inventory			24,000				19,000
Ending raw materials inventory			14,800				13,400
Factory utilities			14,000				12,000
Factory supplies used			11,600				6,400
General and administrative expenses			25,000				48,000
Indirect labor			1,250				7,660
RepairsFactory equipment			4,780				1,500
Raw materials purchases			37,000				50,000
Selling expenses			50,000				46,000
Sales			195,030				290,010
Cash			20,000				15,700
Factory equipment, net			212,500				115,825
Accounts receivable, net			13,200				19,450

References

Section BreakExercise 14-8 Cost of goods manufactured and cost of goods sold computation LO P1, P2

4.

value: 3.12 points

Required information

Exercise 14-8 Part 1

1.	Complete the below table to calculate the cost of goods manufactured for both Garcon Company and Pepper Company. 2, Complete the below table to calculate the cost of goods sold for both Garcon Company and Pepper Company.