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I just need help with number 1 and 2 for this exercise, thank you! 1. Prepare the company's 2017 schedule of cost of goods manufactured.
I just need help with number 1 and 2 for this exercise, thank you!
1. Prepare the company's 2017 schedule of cost of goods manufactured.
2. Prepare the company's 2017 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses.
Required information The following information applies to the questions displayed below.] The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company $695,70 Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories $ 34,000 Direct labor 11,600 Income taxes expense 10,900 Indirect labor 31,800 Miscellaneous production costs 252,700 59,40 11,500 64 ,00 991,000 21,00 28,500 80, 20 35,500 117,300 Office salaries expense 9,400 Raw materials purchases 35,000 Rent expense-Office space Rent expense-Selling space Raw materials, December 31, 2016 Raw materials, December 31, 2017 Work in process, December 31, 2016 Work in process, December 31, 2017 Finished goods, December 31, 2016 Finished goods, December 31, 2017 160,900 Rent expense-Factory building 181,000 Maintenance expense-Factory equipment 4,435,20 16,100 Sales 18,400 Sales salaries expense 395,600 160,100 138,600Step by Step Solution
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