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Exercise 18-8 Cost of goods manufactured and cost of goods sold computation P1 P2 Using...

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Accounting

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Exercise 18-8 Cost of goods manufactured and cost of goods sold computation P1 P2 Using the following data, compute (1) the cost of goods manufactured and (2) the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. 2015 Garcon Pepper Company Company Beginning finished goods inventory. . . . . Beginning work in process inventory . . . . . $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 19,950 9.000 22.750 35,000 Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory . , . . . . . Ending raw materials inventory Factory utilities 3,300 16,000 7.200 12,000 3,200 43,000 7.660 1,500 52,000 46.000 195,030 290,010 15,700 212,500 115,825 19.450 General and administrative expenses. Indirect labor. Check Garcon COGS $91,030 Raw materials purchases Selling expenses Sales 20.000 Factory equipment, net net 13.200

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