The following data is provided for Garcon Company and Pepper Company for the year ended December 31.

	Garcon Company	Pepper Company
Finished goods inventory, beginning	$ 14,600	$ 16,600
Work in process inventory, beginning	15,100	20,700
Raw materials inventory, beginning	9,200	14,550
Rental cost on factory equipment	34,250	22,750
Direct labor	23,600	39,400
Finished goods inventory, ending	20,000	14,800
Work in process inventory, ending	24,100	21,600
Raw materials inventory, ending	5,500	8,800
Factory utilities	13,200	16,250
General and administrative expenses	24,000	56,000
Indirect labor	10,550	12,260
RepairsFactory equipment	4,940	1,600
Raw materials purchases	37,000	57,500
Selling expenses	58,800	51,400
Sales	286,470	374,310
Cash	21,000	18,200
Accounts receivable, net	16,000	20,200

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.

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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 available for use	0	0
Direct materials used	0	0
Factory overhead
Total factory overhead	0	0
Total manufacturing costs
Total cost of work in process	0	0
Cost of goods manufactured	$0	$0

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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.

	Garcon Company	Pepper Company
Goods available for sale
Cost of goods sold	$0	$0

1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.

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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	0
Cost of goods sold		0
		$0

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Required 1

Required 2

Compute the total prime costs for both Garcon Company and Pepper Company.

	Garcon Company	Pepper Company
Total prime costs

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Required 1

Required 2

Compute the total conversion costs for both Garcon Company and Pepper Company.

	Garcon Company	Pepper Company
Total conversion costs