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Complete the table ! Required information [The following information applies to the questions displayed below.) The following year-end information is taken from the December 31
Complete the table
! Required information [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 $ 46,000 Depreciation expense-Office 25,000 equipment Depreciation expense-Selling 26,000 equipment Depreciation expense-Factory 68,000 equipment Raw materials purchases (all direct materials) 780,000 Maintenance expense-Factory 41,400 equipment Factory utilities 36,600 Direct labor 472,000 Indirect labor 71,000 Office salaries expense 43,000 Rent expense-office space 26,000 Rent expense-Selling space 62,000 Rent expense-Factory building 149,000 Sales salaries expense 358,000 Using the following additional information for Leone Company, complete the requirements below. $ 156,000 161,000 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 47,000 2,624,000 51,000 66,000 74,000 Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. Complete this question by entering your answers in the tabs below. Required Required 1 2 Prepare the current year income statement. . LEONE COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods soldStep by Step Solution
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