7 Required Information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Part 2 of 2 2 2 The following data is provided for Garcon Company and Pepper Company points eBook Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 14,380 16,280 9,120 33,eee 24,800 20,75e 27,480 6,380 13,280 11,280 23,eee 1,700 5,980 34,580 58,480 228,30 24, eee 232,5ee 15,6ee Pepper Company $ 17,200 23,188 14,550 23,95 39,800 15,600 17,880 8,00 12,250 5,190 59,00 7,960 2,150 67,080 51,4ee 337,510 18,790 154,825 19,780 Hint Print Exercise 18-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 1-6. Prepare income statements for both Garcon Company and Pepper Company. 1-b. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1A Garcon Req 1A Pepper Reg 1B Garcon Req 18 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2017 Operating expenses Income (loss) before tax Req 1A Garcon Req 1A Pepper > 8 Part 1 of 2 Required Information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. 1.11 points eBook Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 $ 1,293,080 37,000 53,380 68,988 199,990 227,000 19,00 42,00 5,250 53,80 96,080 128, we 44,00 44,280 66,080 Hint Print Exercise 18-13 Preparation of schedule of cost of goods manufactured LO P2 Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials Raw materials available for use Direct materials used Factory overhead: Total factory overhead costs Total manufacturing costs Total cost of work in process Cost of goods manufactured 9 Part 2 of 2 Required Information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. 1.12 points eBook 101 Hint Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 $ 1,293, eee 37, eee 53,300 60, 900 199, 900 227, eee 19, see 42, see 5, 256 53.ee 96, mee 128,000 44, eee 44,200 66, eee Print Exercise 18-14 Income statement preparation LO P2 Prepare an Income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Ended December 31, 2017 Cost of goods sold Cost of goods available for sale Cost of goods sold Operating expenses Total operating expenses Operating income