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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 Depreciation expense-Office equipment Depreciation expense-selling equipment Depreciation expense-factory equipment low materials purchases (all direct materials) Maintenance expense factory equipment Factory utilities Direct lobor Indirect labor Orice Salatles expense Rent expense-Office space Rent expensesellspace Rent expense-factory building Sales salaries expense $ 45,000 24,00 25,000 67,000 778,000 41,100 36,400 468,000 70.000 42.000 25,000 68,000 144,000 3:46,000 Required Identify each cost as either a product cost or a period cost. If a product cost, dassify it as direct materials, direct labor of factory overhead Ir a period cost, classify it as a seling expense or a general and administrative expense (Leave no cell blank. Enter "NA- Not a product cost" or "NA - Not a period cost for expenses that are not product cost or period cost) Type of Product Cost Type of Period Cost Costs 1. Advertising pense 2 Depreciation expense-Office equipment 3. Depreciation expenseSaling equipment Depreciation expense Factory equipment 5. Raw matenals purchases all materials Maintenance Factory guiment 7. Factory Direct labor indirect labor 10 Oceanos expense 11 Rant Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense Factory equipent Raw materials purchases (11 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 24,00 25,000 67,000 770,00 41,100 36,400 468,000 70,000 42,000 25,000 60,000 144,000 346,000 Required: Identify each cost as other a product cost or a period cost. If a product cost, classify it as direct materials, direct labor, or factory overhead. If a period cost, classify it as a seling expense or a general and administrative expense (Leave no cell blank. Enter "NA- Not a product cost" or "NA - Not a penod cost" for expenses that are not product cost or period cost.) Type of Product cost Type of Pened Con Costs 1. Advertising expense 2. Deprecation expense-Office equipment 3. Depreciation expense-Seling equipment 4. Depreciation expense Factory equipment 5. Raw materials purchases (all direct materials) 6. Maintenance expense-Factory equipment 7. Factory utilities 8. Direct labor 0. Indirect labor 10. Office salaries expense 11. Rent expense-Office Space 12. Rent expense-Seling space 13. Rent expense--Factory building 14. Salas salaries expense Direct Labor Direct Materials Factory Overhead NA - Not a product cost Required Information The following information applies to the questions displayed below) The following year-end Information is taken from the December 31 adjusted tal balance and other records of Leone Company Advertising expense Depreciation expenseOffice equipment Depreciation expense-Selling equipment Depreciation expenseFactory equipment Raw materials purchases (all direct materials Maintenance expense-factory equipment Factory utilities Direct Labon Indirect labor Office salaries expense Rent expense-Office Space Renit expenseselling space Rent expense Factory building Sales salaries expense $ 45,000 24,000 25,000 67,000 770,000 41,100 36,400 468.000 70,000 42,00 25,000 60, Bee 144,00 346,000 Using the following additional Information for Leone Company, complete the requirements below. Raw materials inventory, beginning $ 154,00 Raw materials Inventory ending 159.000 Work in process Inventory, beginning 46,000 Sales 2,576.000 Work in process inventory, ending 50,000 Finished goods inventory beginning 64,000 Finished goods inventory, ending 22,00 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 i Required 2 Prepare the schedule of cost of goods manufactured for the current year 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 Raw materials available for use Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Complete this question by entering your answers in the tabs below. Required t Required 2 Prepare the current year income statement LEONE COURO Fontys Ended December Cost of goods sold A Goods available for sale Cost of goods sold