gerial Accounting Assignment 1 Check my work mode : This shows what is correct or incorrect for the work you have completed Advertising expense $ 43, 000 Depreciation expense Office equipment 22, 000 Depreciation expense-Selling equipment 23, 000 Depreciation expense-Factory equipment 65, 000 Raw materials purchases (all direct materials) 750, 000 Maintenance expense-Factory equipment 40 , 500 Factory utilities 36, 000 Direct labor 460, 000 Indirect labor 69, 000 Office salaries expense 41, 000 Rent expense Office space 25 , 000 Rent expense-Selling space 60, 000 Rent expense Factory building 144, 000 Sales salaries expense 346, 000 Using the following additional information for Leone Company, complete the requirements below. Raw materials inventory, beginning $ 150, 000 Raw materials inventory, ending 155, 000 Work in process inventory, beginning 45, 000 Sales 2, 529, 000 Work in process inventory, ending 49 , 000 Finished goods inventory, beginning 63, 000 Finished goods inventory, ending 71, 000 Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. OCT 31 tv I MacBook Air 20 DII F2 F3 F4 F5 F6 F7 F8 @ # $ % & SKRequired information LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials Raw materials inventory, beginning 150,000 Raw materials purchases 750,000 Raw materials available for use 900,000 Less: Raw materials inventory, ending 155,000 Direct materials used + $ 745,000 Direct labor 460,000 Factory overhead Factory supervision X Factory supplies used Factory utilities 36,000 Maintenance expense-Factory equipment 40,500 Rent expense-Factory building 144,000 Depreciation expense-Factory equipment 65,000 Indirect labor 69,000