#8. Only blue boxes are to be filled.

[The following information applies to the questions displayed below) The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense $ 28,750 7,250 8,600 49,325 925,000 35,400 33,000 675, 480 159,475 63,000 22,000 26, 100 76,800 392,560 Using the following additional information for Leone Company, complete the requirements below. Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Sales Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $ 166,850 182,000 15,700 4,462,500 19,380 167,350 136, 490 Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the schedule of cost of goods manufactured for the current year. LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials $ 166,850 Raw materials inventory, beginning Work in process, beginning 925,000 Raw materials available for use 1,091,850 Direct materials used $ 1,091,850 Factory overhead Depreciation expense-Factory equipment Factory utilities Indirect labor Maintenance expense-Factory equipment 49,325 33,000 159,475 76,800 35,4001 Raw materials inventory, beginning Work in process, beginning 166,850 925,000 Raw materials available for use 1,091,850 Direct materials used $ 1,091,850 Factory overhead Depreciation expense_Factory equipment Factory utilities 49,325 33,000 Indirect labor Maintenance expense Factory equipment 159,475 76,800 35,400 Total factory overhead Total manufacturing costs 354,000 1,445,850 Income Statement For Year Ended December 31 $ 4,462,500 Cost of goods sold Cost of goods manufactured Finished goods inventory, beginning 167,350 Goods available for sale 167,350 Cost of goods sold 167,350 4,295,150 $ 4,295,150