Chapter 18 Managerial Accounting Concepts and Prinoipes calendar year-end information is taken from the December 31, 2017, adjusted trial balance following calendar year-end information is leosher records of Leone Company in 793 other reconds orla Problem 18-2A Classitying costs C2 C3 s 28,750 Miscellaneous production costs 250 Office salaries expense 8.600 Raw materials purchanes 33.550 Rent expense- Office space. $ 8.425 3,000 25.000 22,000 26.100 6.800 35,400 4.462,500 192.560 expense-Factory equipment atoy supervision Fatory supplies used Factory ublibes Deect labor 102,600 Rent expense-Selling space 7,350 Rent expense-Factory building 3,000 Mainbenance expense-Factory equipment 675,480 Sales 6,875 Sales salaries expense each cost as either a product or period cos. y cach period cost as either selling expenses or general and administrative expenses. data from Problem 18-2A and the following additional inventory information for t Classify 2 Classify fy each product cost as either direct materials, direct labor, or factory overhead y information for Leone Problem 18-3A Schedule of cost of goods manufactured and income statement nvemory analysis P2 A1 te the requiretrients below. Assume income tax expense is $233,725 for the year 166.850 182.000 15,700 19.380 167,350 136,490 als, December 31, 2017 Wo process, December 31, 2017 Fnstet goods, December 31, 2016 Finished goods, December 31, 2017 Check (1) Cost of goods manfctred $1 935 650 Required 1, Prepare the company's 2017 schedule of cost of goods manufactured 2. Prepure the company's 2017 income statement that reports separate catcegories for (a) selling espenes and (b) general and administrative expenses the (a) inventory turnover, defined as cost of goods sold divided by average imentory, and days' sales in inventory, defined as 365 times ending inventory divided by cost of goods sold, for its raw materials inventory and its finished goods inventory. (To compute turnover and days' sales neatory for raw materials, use raw materials used rather than cost of goods sold.) Discuss some Analysis Component ereasons t one decimal place. or differences between these ratios for the two types of inventories Round answers inventory computation and evakuation finished goods inventory and (b) 1,.200 heels at a cost of $8 each in raw ma- company purchased 35,000 additional heels at $8 each and manufac Ending specialty boots for the rodeo circuit. On December 31, 2016,the CA Boot Company makes pure hentory, During 2017, the pairs of boots. Check ileing hee) nvetory 3,000 units $2400 materials inventory in heels at December 31, 2017