Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5 Part 1 of 2 Required Information Problem 18-3A Schedule of cost of goods manufactured and income statement; Inventory analysis LO P2, A1 [The following

image text in transcribed
image text in transcribed
5 Part 1 of 2 Required Information Problem 18-3A Schedule of cost of goods manufactured and income statement; Inventory analysis LO P2, A1 [The following Information applies to the questions displayed below) The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company 7.5 points 3.100 Advertising expense Depreciation expense office equipment Depreciation expense-Gelling ipment Depreciation expense-Factory epent Pactory supervision Factory supplies used Tactory utilities Inventories Raw materials, December 31, 2018 Raw materials, December 31, 2019 Work in process, Deceber 31, 2018 Work in process, December 31, 2013 Finished goods, December 31, 2018 Finished goods, December 31, 2019 $ 29,500 Direct labor 9,300 Income tax expense 9,700 Indirect labor 34.000 Miscellaneous production conta 104,000 office salaries experte Raw material purchase Rent expense office space Rent expense-Gelling space 164,700 Rent expense-Factory building 176,000 Maintenance expense-Factory equipment 15,600 Sales 19,900 Sales malarie expense 163,300 140,500 $ 86.100 265, B90 57,000 11.000 65,000 930,000 20,000 28,000 16,90 36.800 4,545,800 395,000 55,000 References Problem 18-3A Part 1 Required: 1. Prepare the company's 2019 schedule of cost of goods manufactured LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Direct mais Raw materials in December 31, 2018 5 Required information Part 1 of 2 LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Direct materials Raw materials inventory, December 31, 2018 Raw materials purchases 7.5 points eBook Raw materials available for use 0 Direct materials used $ 0 Ask Print References Factory overhead Factory supervision Factory supplies used Factory utilities Maintenance expense- Factory equipment Rent expense-Factory building Depreciation expense-Factory equipment Indirect labor Miscellaneous production costs 0 Total factory overhead costs Total manufacturing costs Add: Work in process inventory, December 31, 2018 Total cost of work in process Loss: Work in process inventory, December 31, 2019 Cost of goods manufactured 0 S

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions