Required information [The following information applies to the questions displayed below) The following information is taken from the December 31, 2019 year-end, adjusted trial balance and records of Reid, Lester, Hodge, and Leone Company Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-actory equipment Factory supervision Factory supplies used Tactory utilities Inventories Raw materials, December 31, 2018 Raw materials, December 31, 2019 Work in process, December 31, 2018 Work in process, December 31, 2019 Tininhed goods, December 31, 2018 Pinished goods, December 31, 2019 $ 26,000 Direct labor 7,500 Income taxes expense 10,200 Indirect labor 37.500 Miscellaneous production costa 122,700 office salaries expense 8,400 Raw materials purchases 41,000 Rent expense-office space Rent expense-Selling space 164,200 Rent expense-Factory building 195,000 Maintenance expense-Factory equipment 16,800 Sales 23,000 Sales salaries expense 166,400 139,900 $ 699,900 259,200 57,800 10,700 70,000 977.000 25,000 26,500 81,500 36,100 4,576,500 395,900 Required: 1. Prepare Reid, Lester, Hodge, and Leone's 2019 schedule of cost of goods manufactured LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Direct materials Raw materials wilable for use Required information The following information applies to the questions displayed below.) The following information is taken from the December 31, 2019 year-end, adjusted trial balance and records of Reid, Lester, Hodge, and Leone Company. Advertising expense Depreciation expense office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventorien 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 $ 26,000 7,500 10,200 37,500 122,700 8,400 41,000 Direct labor Income taxes expense Indirect labor Miscellaneous production costs office salaries expense Raw materials purchases Rent expense office space Rent expenselling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 699,900 259,200 57, 800 10,700 70,000 977,000 25,000 26,500 81,500 36,100 4.576,5001 395,900 164,200 195,000 16,800 23,000 166,400 139.900 2. Prepare Reid, Lester, Hodge, and Leone's 2019 income statement. Note: the companyreports 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 $
