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i need help figuring out what i am missing in the two charts Required information [The following information applies to the questions displayed below.) The
i need help figuring out what i am missing in the two charts 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 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 32,800 33,000 75,000 850,000 43,500 38,000 500,000 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 $ 170,000 Raw materials inventory, ending 175,000 Work in process inventory, beginning 51,000 Sales 2,819,000 Work in process inventory, ending 55,800 Finished goods Inventory, beginning 71,000 Finished goods inventory, ending 79,800 Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement ntering your answers in the tabs below. Part 2 of 2 Reajired 1 Required 2 1 points eBook 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 inventory beginning 170,000 Raw materials purchases 850,000 Ask Print $ References 1,020,000 175,000 Raw materials available for use Less: Raw materials inventory, ending Direct materials used Direct labor Factory overhead $ 845,000 500,000 Factory utilities Depreciation expense--Factory equipment Maintenance expense Factory equipment 38,000 75,000 43,500 Required 1 Required 2 Doints Prepare the current year Income statement. eBook Ask LEONE COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Cost of goods manufactured Finished goods inventory, beginning Print $ 2.819,000 References 71,000 71,000 79,000 Goods available for sale Less: Finished goods inventory, ending Cost of goods sold Gross profit Selling expenses (8,000) 2,827,000 Net Income $ 2,827,000
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