Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1

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The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company.

Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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. $ 31,700 10,700 9,600 36,600 124,000 9,200 45,000 Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories 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 Direct labor Income taxes expense Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 673,200 277,800 55,500 10,400 66,000 981,000 27,000 25,000 80,200 39,600 4,456,800 395,300 157,700 183,000 18,100 21,100 160,300 139,500 LEONE COMPANY Income Statement For Year Ended December 31, 2017 Cost of goods sold Goods available for sale Cost of goods sold Operating expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials Raw materials available for use Direct materials used Factory overhead Total factory overhead costs Total manufacturing costs Total cost of work in process Cost of goods manufactured