Required information [The following information applies to the questions displayed below.) The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials). Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense $ 30,000 9,000 10,000 52,000 620,000 36,600 33,400 408,000 61,000 37,000 22,000 53,000 127,000 305,000 Required: Identify each cost as either a product cost or a period cost. If a product cost, classify it as direct materials, direct labor, or factory overhead. If a period cost, classify it as a selling expense or a general and administrative expense. (Leave no cell blank. Enter "NA - Not a product cost" or "NA - Not a period cost" for expenses that are not product cost or period cost.) Costs 1 Artvertising evnense Type of Product Cost NA-Not a product onst 9 < Prev 3 4 of 5 Next > Type of Period Cost 1. Advertising expense Costs 2. Depreciation expense-Office equipment i 3. Depreciation expense-Selling equipment 4. Depreciation expense-Factory equipment 5. Raw materials purchases (all direct materials) 6. Maintenance expense-Factory equipment 7. Factory utilities 8. Direct labor Answer is not complete. Type of Product Cost NA-Not a product cost NA-Not a product cost NA-Not a product cost Factory Overhead Direct Materials O Factory Overhead O Factory Overhead 9. Indirect labor i 10. Office salaries expense 11. Rent expense-Office space 12. Rent expense-Selling space 13. Rent expense-Factory building 14. Sales salaries expense Direct Labor Factory Overhead NA- Not a product cost NA- Not a product cost NA-Not a product cost Factory Overhead NA-Not a product cost 9 < Prev 3 4 of 5 Next > Type of Period Cost Check my work Required information [The following information applies to the questions displayed below.] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense $ 30,000 9,000 10,000 52,000 620,000 36,600 33,400 408,000 61,000 37,000 22,000 53,000 127,000 305,000 Using the following additional information for Leone Company, complete the requirements below. Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Sales Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Danuired $ 124,000 129,000 37,000 2,144,000 41,000 52,000 60,000 < Prev 84 of 5 Next > ces Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the schedule of cost of goods manufactured for the current year. LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials Raw materials inventory, beginning Raw materials purchases Raw materials available for use Less: Raw materials inventory, ending Direct materials used Direct labor Factory overhead 0 $ 0 9 < Prev 4 of 5 Next > nows 4. Required information 2 of 2 C raw Raw materials available for use Less: Raw materials inventory, ending Direct materials used Direct labor Factory overhead Indirect labor Factory utilities Depreciation expense-Factory equipment Rent expense-Factory building Maintenance expense-Factory equipment Total factory overhead. Total manufacturing costs Add: Work in process inventory, beginning Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured < Prev 84 0 $ 0 0 0 0 0 of 5 Next >