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 Garcon Company $ 12,200 14,600 Pepper Company $ 17,200 20,400 7,300 9,000 30,500 23,050 20,400 40,600 Finished goods inventory, ending 18,950 16,800 Work in process inventory, ending 24,100 20,600 Raw materials inventory, ending 7,000 9,800 Factory utilities 13,350 15,000 General and administrative expenses 24,500 49,000 Indirect labor 16,050 14,300 Repairs-Factory equipment 5,540 1,650 Raw materials purchases 43,000 66,000 Selling expenses 64,800 52,900 Sales 297,240 388,790 Cash 23,000 22,200 Accounts receivable, net 14,200 23,700 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. 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 $ 7,300 $ 9,000 Add: Raw materials purchases 43,000 66,000 Raw materials available for use 50,300 75,000 Less: Raw materials inventory, ending (7,000) (7,000) Direct materials used 43,300 68,000 Direct labor 20,400 40,600 Factory overhead Factory utilities 13,350 15,000 Rental cost on factory equipment 30,500 23,050 Indirect labor 16,050 14,300 Repairs-Factory equipment 5,540 1,650 Total factory overhead 65,440 54,000 Total manufacturing costs Add: Work in process inventory, beginning 14,600 20,400 Total cost of work in process 14,600 20,400 Less: Work in process inventory, ending (24,100) (20,600) Cost of goods manufactured $ (9,500) $ (200) [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 Garcon Company $ 12,200 14,600 Pepper Company $ 17,200 20,400 7,300 9,000 30,500 23,050 20,400 40,600 Finished goods inventory, ending 18,950 16,800 Work in process inventory, ending 24,100 20,600 Raw materials inventory, ending 7,000 9,800 Factory utilities 13,350 15,000 General and administrative expenses 24,500 49,000 Indirect labor 16,050 14,300 Repairs-Factory equipment 5,540 1,650 Raw materials purchases 43,000 66,000 Selling expenses Sales 64,800 52,900 297,240 388,790 Cash Accounts receivable, net 23,000 22,200 14,200 23,700 Exercise 18-7 (Algo) Computing cost of goods manufactured and cost of goods sold LO P1, P2 . 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 calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31. Garcon Company Pepper Company Finished goods inventory, beginning $ 12,200 17,200 Add: Cost of goods manufactured Goods available for sale Less: Finished goods inventory, ending Cost of goods sold (18,950) (16,800) $ (18,950) $ (16,800)