Problem $18-3$A

Schedule of cost of goods manufactured and income statement

P$1$ P$2$

Using the data from Problem $18-2$A and the following additional information for Leone Company, complete the requirements below.

Raw materials inventory, beginning $ $166,850$

Raw materials inventory, ending $182,000$

Work in process inventory, beginning $15,700$

Sales $4,462,500$

Work in process inventory, ending $ $19,380$

Finished goods inventory, beginning $167,350$

Finished goods inventory, ending $136,490$

Required

$1.$Prepare the schedule of cost of goods manufactured for the current year.

$2.$Prepare the current year income statement.

Check $(1)$ Cost of goods manufactured, $$1,935,650$