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 $ 14,900 18,200 11,800 34,500 22,200 20,900 22,900 6,500 14,100 13,000 32,500 1,450 7,100 40,500 56,800 246,030 30,000 247,500 13,200 Pepper Company $ 19,300 23,850 12,450 26,050 40,600 13,600 19,400 8,000 16,750 3,700 59,500 7,960 3,450 55,500 50,800 320,010 22,200 166,825 24,200 Exercise 14-8 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 find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2019 Direct materials 0 0 Raw materials available for use 0 0 Direct materials used Factory overhead 0 0 Total factory overhead Total manufacturing costs 0 0 Total cost of work in process CA CA 0 Cost of goods manufactured 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 $ $ 0 Cost of goods sold Required 1 Required The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Rio Baterials, December 31, 2018 Raw materials, December 31, 2019 Work in process, December 31, 2018 Work in process, December 31, 2019 Finished goods, December 31, 2018 Finished goods, December 31, 2019 $ 28,750 Direct labor 7,250 Income taxes expense 8,600 Indirect labor 33,550 Miscellaneous production costs 102,600 office salaries expense 7,350 Raw materials purchases 33,000 Rent expense-Office space Rent expense-selling space 166,850 Rent expense-Factory building 182,000 Maintenance expense-Factory equipment 15,200 Sales 19,380 Sales salaries expense 167,350 136,490 $. 675,480 233,725 56,875 8.425 63,000 925,000 22,000 26,100 76,800 35,400 4,462,500 392,560 LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Direct materials 0 Raw materials available for use $ 0 Direct materials used Factory overhead $ 0 Direct materials used Factory overhead 0 Total factory overhead costs Total manufacturing costs 0 0 Total cost of work in process $ Cost of goods manufactured Problem 14-3A Part 2 2. Prepare the company's 2019 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses. LEONE COMPANY Income Statement For Year Ended December 31, 2019 Cost of goods sold 0 Goods available for sale 0 Cost of goods sold 0 Operating expenses Solling expenses Required information Sening experises 0 Total selling expenses General and administrative expenses 0 0 Total general and administrative expenses Total operating expenses Income before taxes 0 $ 0 Net income