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Required information (The following information applies to the questions displayed below.] The following calendar year-end information is taken from the December 31, 2019, adjusted trial
Required information (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 expenseFactory 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 $ 26,300 8,100 10,000 39,900 101,700 8,600 30,000 Direct labor Income taxes expense Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases Rent expense-office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 670,400 295,700 57,400 12,000 72,000 930,000 20,000 29,900 80,900 39,500 4,626,100 392,100 157,100 190,000 19,800 18,800 167,700 137,600 Required: 1. Prepare the company'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 available for use 0 Direct materials used 0 Factory overhead 0 Total factory overhead costs Total manufacturing costs 0 Total cost of work in process 0 Cost of goods manufactured ta 0 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 0 Total selling expenses General and administrative expenses Total general and administrative expenses 0 Total operating expenses Income before taxes
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