Question: how do i calculate? The following data is provided for Garcon Company and Pepper Company. Garcon Pepper Company Company Beginning finished goods inventory $ 12,900
how do i calculate?



![materials inventory {direct materials] 11,300 11,350 Rental cost on factory equipment 34,250](https://s3.amazonaws.com/si.experts.images/answers/2024/06/667eaa304079f_136667eaa3032539.jpg)
The following data is provided for Garcon Company and Pepper Company. Garcon Pepper Company Company Beginning finished goods inventory $ 12,900 5 16,450 Beginning work in process inventory 13,500 22,050 Beginning raw materials inventory {direct materials] 11,300 11,350 Rental cost on factory equipment 34,250 26,050 Direct labor 19,200 30,500 Ending finished goods inventory 1T,450 13,?00 Ending work in process inventory 24,100 17,300 Ending raw materials inventory 5,900 7,500 Factory utilities 11,350 12,000 Factory supplies used (indirect materials] 11,500 3,300 General and administrative expenses 21,500 55,000 Indirect labor 1,450 9,040 RepairsFactory equipment 4,320 2,400 Raw materials purchases 35,000 63,500 Selling expenses 53,500 46,000 Sales 229,530 322,510 Cash 32,000 21,?00 Factory equipment, net 262,500 145,025 Accounts receivable, net 14,000 21,200 Required: 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section ofthe balance sheet for each company. Complete thle qumon by enterlng your owners In the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Pen 2 Pepper Prepare the income statement for Garcon Company. Operating expenses _ Income {loss} before tax Complete this question by entering your answers in the tabs below. Req 1 Garcon : Req 1 Pepper Req 2 Garcon |Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses Income (loss) before tax 0Req 1 Garcon |Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets 0Req 1 Garcon |Req 1 Pepper |Req 2 Garcon : Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: Total current assets 0
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
