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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.]
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. 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 $ 29,900 Direct labor 8,000 Income taxes expense 10,200 Indirect labor 36,100 Miscellaneous production costs 101,200 Office salaries expense 8,200 Raw materials purchases 43,000 Rent expense-office space Rent expense-Selling space 158,800 Rent expense-Factory building 178,000 Maintenance expense-Factory equipment 19,600 Sales 19,400 Sales salaries expense 167,500 144,000 $ 674,400 259,300 58,000 11,100 71,000 971,000 29,000 29,200 79,100 37,000 4,475,700 392,900 Required: 1. Prepare the company's 2017 schedule of cost of goods manufactured. Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials Raw materials available for use le for use Direct materials used Factory overhead Total factory overhead costs Total manufacturing costs Total cost of work in process Cost of goods manufactured
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