Exercise 14-8 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 Company Pepper Company 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 ......... RepairsFactory equipment ..... Raw materials purchases ...... Selling expenses ... Sales ..... Cash .......... Factory equipment, net ....... Accounts receivable, net...... $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 50,000 195,030 20,000 212,500 13,200 $16,450 19,950 9,000 22,750 35,000 13,300 16,000 7,200 12,000 3,200 43,000 7,660 1,500 52,000 46,000 290,010 15,700 115,825 19,450 a-2. Compute the total conversion costs for both Garcon Company and Pepper Company. Garcon Company Pepper Company Direct labor Factory overhead Total factory overhead Total conversion costs $ 0 $ a-1. Compute the total prime costs for both Garcon Company and Pepper Company. Garcon Company Pepper Company Direct materials Raw materials available for use Direct materials used Total prime costs $ 0 $