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Required: 1. Prepare the companys 2019 schedule of cost of goods manufactured. Required information Problem 18-3A Schedule of cost of goods manufactured and income statement;
Required: 1. Prepare the companys 2019 schedule of cost of goods manufactured.
Required information Problem 18-3A 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, 2019, 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, 2018 Raw materials, December 31, 2019 Work in process, December 31, 2018 Work in process, December 31, 2019 Finished goods, December 31, 2018 Finished goods, December 31, 2019 $ 25,700 Direct labor 10,300 Income taxes expense 10,600 Indirect labor 39,000 Miscellaneous production costs 142,400 office salaries expense 9,100 Raw materials purchases 30,000 Rent expense-office space Rent expense-selling space 162,300 Rent expense-Factory building 187,000 Maintenance expense-Factory equipment 16,300 Sales 24,700 Sales salaries expense 166,300 135,900 $ 697,500 286,500 56,600 11,800 61,000 927,000 24,000 28,800 81,900 39,500 4,585,600 395,500 Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 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
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