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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. The following data is provided for Garcon Company and Pepper Company. Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory direct materials) 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 (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 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 Pepper Company $ 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 Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2019. Garcon Company Pepper Company Direct materials Raw materials available for use Direct materials used 0 0 Factory overhead 0 0 Total factory overhead Total manufacturing costs Total cost of work in process 0 0 Cost of goods manufactured 0 $ Required 1 Required 2 > Exercise 18-8 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, 2019. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2019. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2019. Garcon Company Pepper Company Cost of goods available for sale Cost of goods sold $ 0 $ 0 Exercise 18-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. 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 Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax $ Exercise 18-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. 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 current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: Total current assets Exercise 18-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. 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 current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: Total current assets
