! Required information Use the following information for the Exercises below. (Static) [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. Garcon Company $ 12,000 14,500 7,250 27,000 19,000 17,650 22,000 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling exp Sales Cash Accounts receivable, net 5,300 9,000 Pepper Company $ 16,450 19,950 9,000 22,750 35,000 13,300 16,000 7,200 12,000 10,860 1,500 200 52,000 ad 46,000 290,010 15,700 19,450 43,000 21,000 9,450 4,780 33,000 50,000 195,030 20,000 13,200 Exercise 18-7 (Static) 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 1 Required 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 Add: Raw materials purchases Raw materials available for use Less: Raw materials inventory, ending Direct materials used Direct labor Factory overhead Rental cost on factory equipment Factory utilities 7,250 33,000 40,250 5,300 34,950 19,000 9,000 52,000 61,000 7,200 53,800 35,000 27,000 9,000 22,750 12,000 Indirect labor 4,780 Repairs-Factory equipment Total factory overhead Total manufacturing costs Add: Work in process inventory, beginning Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured 40,780 104,180 14,500 1,500 36,250 135,910 19,950 155,860 16,000 139,860 118,680 22,000 96,680 $ $