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 General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Canh Accounts receivable, Det Garcon Company $ 12,000 14,500 17,250 27,000 19,000 17,650 22,000 5,300 9,000 21,000 9,450 4,780 33,000 50,000 195,030 20,000 13,200 Pepper Company $ 16,450 19,950 9,000 22,750 35,000 13,300 16,000 7,200 12,000 43,000 10,860 1,500 52,000 46,000 290.010 15,700 19,450 Exercise 14-7 (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 ende 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 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 11,200 48,000 59,200 (7,200) 52,000 23,800 14,700 x 57.000 x 71,700 (8.600) 63,100 37,800 equipment Indirect labor Repairs--Factory equipmer 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 32.750 13,800 x 11 200 x 1,600 X 7.580 66,930 142,730 16,900 159,630 26,500 X 133, 130 $ 24,250 14,750 X 5,100 X 9,940 2,050 56,090 156,990 20,100 177,090 20,800 156,290 S Required 2 > Required 1 Required 2 Complete the table to calculate the cost of goods sold for both Garcon Company and Pep December 31. Finished goods inventory, beginning Add: Cost of goods manufactured Goods available for sale Less: Finished goods inventory, ending Cost of goods sold Garcon Pepper Company Company $ 13,500 X $ 18,100 133,130 156,290 146,630 174,390 19,850 14,500 $ 126,780 $ 159,890 Required 1