The following data is provided for Garcon Company and Pepper Company Beginning finished...
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Accounting
The following data is provided for Garcon Company and Pepper Company
Beginning finished goods inventory 13,800$17,800
Beginning work in process inventory 14,80021,300
Beginning raw materials inventory 10,80013,500
Rental cost on factory equipment 34,75025,900
Direct labor 23,80037,400
Ending finished goods inventory 18,35014,300
Ending work in process inventory 22,00017,800
Ending raw materials inventory 7,300 9,600
Factory utilities 10,20012,500
Factory supplies used 11,800 3,900
General and administrative expenses 22,00043,500
Indirect labor 1,550 8,920
RepairsFactory equipment 7,580 1,950
Raw materials purchases 39,50053,500
Selling expenses 50,80048,700
Sales 201,030342,510
Cash 30,00022,200
Factory equipment, net 282,500169,825
Accounts receivable, net 16,600 21,950
Prepare income statements for both Garcon Company and Pepper Company.
Prepare the current assets section of the balance sheet for each company.
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