Required information Use the following information for the Exercises below. (Algo) [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. 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 Garcon Company $ 12,500 Pepper Company $ 19,150 17,600 22,800 8,200 12,300 28,750 23,050 22,200 39,800 17,600 13,200 24,100 18,200 6,100 9,800 11,700 13,000 General and administrative expenses 33,500 49,500 Indirect labor 9,900 12,420 Repairs-Factory equipment 4,820 3,100 Raw materials purchases 41,500 65,000 Selling expenses 50,800 52,900 Sales 270,090 378,840 Cash Accounts receivable, net 24,000 21,700 13,600 19,450 Exercise 18-7 (Algo) 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. Required 1 Required 2 Complete the table to find the cost of goods manufactured for both Garcon Company and December 31. Direct materials Add: Raw materials purchases Raw materials available for use Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Garcon Company Pepper Company 0 0 0 0 0 0 0 0 $ 0 $ 0 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. Goods available for sale Cost of goods sold Garcon Pepper Company Company $ 0 $ 0 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 Cost of goods sold: Goods available for sale Cost of goods sold 0 0 0 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale Cost of goods sold Net income 0 0 0 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 Balance Sheet-Current Assets Section December 31 Total current assets 0 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 Balance Sheet-Current Assets Section December 31 Total current assets 0