21,900 8,100 20,400 Corai and The following data is provided for Garcon Company and Pepper Company. Garcon Pepper Company Company Beginning finished goods inventory $ 14,300 $ 19,000 Beginning work in process inventory 15,200 Beginning raw materials inventory 14,250 Rental cost on factory equipment an 30, 750 22,600 Direct labor 37,400 Ending finished goods inventory 20,600 2014 14,400 Ending work in process inventory 20,400 Ending raw materials inventory 6,800 9,000 Factory utilities 14,400 18,000 5,400 and administrative expenses 22,000 48,000 Indirect labor 2,050 8,380 Repairs-Factory equipment 7,460 1,900 Raw materials purchases 41,000 62,000 Selling expenses 62,000 55,000 Sales 199,530 335, 010 Cash 28,000 16,700 Factory equipment, net 212,500 166,825 Accounts receivable, net 15,000 23,200 23,800 2008 10,900 Exercise 14-8 Cost of goods manufactured and cost of goods sold computation LO P1, P2 Required: 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2017. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2017 37,400 22.000 sales The following data is provided for Garcon Company and Pepper Company. Garcon Pepper Company Company Beginning finished goods inventory $ 14,300 $ 19,000 Beginning work in process inventory 15,200 21,900 Beginning raw materials inventory 8,100 14,250 Rental cost on factory equipment 30.750 22,600 Direct labor 20,400 Ending finished goods inventory 20,600 14400 14,400 Ending work in process inventory 23,800 20.400 20,400 Ending raw materials inventory 6800 9,000 14,400 10.000 Factory utilities 18,000 Factory supplies used 5, 400 General and administrative expenses 48000 48,000 Indirect labor 2.050 2,050 8,380 Repairs-Factory equipment 7,460 1,900 Raw materials purchases 41,000 62,000 Selling expenses 55,000 199,530 335,010 Cash 28,000 16,700 Factory equipment, net 212,500 166,825 Accounts receivable, net 15,000 23, 200 62,000 Exercise 14-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 1-a. Prepare income statements for both Garcon Company and Pepper Company. 1-b. Prepare the current assets section of the balance sheet for each company