Required information 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, 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 $ 30.000 Direct labor 10,100 Income taxes expense 10,400 Indirect labor 35,100 Miscellaneous production costs 113,500 office salaries expense 9,600 Raw materials purchases 37,000 Rent expense office space Rent expense-Selling space 168,800 Rent expense-Factory building 181,000 Maintenance expense-Pactory equipment 15,500 Sales 21,100 Sales salaries expense 169.900 135,700 $ 686.800 257.900 58,700 11,300 68,000 993,000 22.000 26.500 79,300 39,600 4.556700 391.400 Problem 14-3A Part 1 Required: 1. Prepare the company's 2019 schedule of cost of goods manufactured LEONE COMPANY Schedule of Cost of Goods Manufactured 12 of 2 Next > LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Direct materials Direct labor HS Factory supplies used Raw materials available for use Direct materials used Factory overhead Total factory overhead costs Total manufacturing costs Total cost of work in process Costin and manufactured Raw materials available for use CE Direct materials used Factory overhead Total factory overhead costs Total manufacturing costs es Total cost of work in process Cost of goods manufactured Problem 14-3A Part 2 2. Prepare the company's 2019 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses. LEONE COMPANY Income Statement For Year Ended December 31, 2019 Cost of goods sold Goods available for sale Cost of goods sold Operating expenses Selling expenses Total selling expenses General and administrative expenses u own Operating expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income