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Garcon Company Pepper Company Beginning

Sandra Watson
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Using the following data,
Garcon CompanyPepper Company
  Beginning finished goods inventory$12,700$17,650
  Beginning work in process inventory16,80021,300
  Beginning raw materials inventory10,9009,000
  Rental cost on factory equipment30,00025,750
  Direct labor22,60039,000
  Ending finished goods inventory17,90015,600
  Ending work in process inventory24,10021,000
  Ending raw materials inventory6,0008,800
  Factory utilities13,95012,250
  Factory supplies used11,8005,700
  General and administrative expenses34,00048,000
  Indirect labor1,4008,020
  Repairs—Factory equipment5,7803,650
  Raw materials purchases35,00056,000
  Selling expenses63,20049,000
  Factory equipment, net227,500178,825
  Accounts receivable, net15,60020,950
1-a.Prepare income statements for both Garcon Company and Pepper Company.
1-b.Prepare the current assets section of the balance sheet for each company.

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