2 Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory. beginning Garcon Pepper Company Company $ $ 12,700 17,800 16,000 22,800 11,100 9,900 Rental cost on factory equipment 31,750 25,900 Direct labor 21,400 35,800 Finished goods inventory, ending 19,250 16,400 Work in process inventory, ending 26,200 19,600 Raw materials inventory, ending 7,000 8,600 Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses 11,300 6,620 12,660 3,200 46,000 58,500 57,200 58,900 Sales 296,460 380,960 Cash 24,000 22,200 Accounts receivable, net 16,600 20,450 13,800 13,000 22,000 48,000 Exercise 14-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Complete this question by entering your answers in the tabs below. Required Required 1 2 Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31. Garcon Company Pepper Company Direct materials Raw materials inventory. $ beginning 11,100 $ 9,900 Add: Raw materials 46,000 purchases 58,500 Raw materials available for 57,100 Use 68,400) Less: Raw materials inventory, ending 7,000 8,600 Direct materials used 50,100 59,800 Direct labor 21.400 35,800 Factory overhead