HW question 4

[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 $ 53,000 32,000 33,000 75,000 850,000 43,500 30,000 500,000 75,000 45,000 27,000 65,000 156,000 374,000 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 $ 170,000 175,000 51,000 2,819,000 55,000 71,000 79,000 Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement