Required information Use the following information for the Problems below. (Algo) [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 $ 41,000 Depreciation expense-Office equipment 20,000 Depreciation expense-Selling equipment 21,000 Depreciation expense-Factory equipment 63,000 Raw materials purchases (all direct materials) 730,000 Maintenance expense-Factory equipment 39,900 Factory utilities 35,600 Direct labor 452,000 Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense 68,000 41,000 25,000 60,000 144,000 346,000 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. Advertising expense 2. Depreciation expense-Office equipment 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 9. Indirect labor 10. Office salaries expense 11. Rent expense-Office space 12. Rent expense-Selling space 13. Rent expense-Factory building 14. Sales salaries expense Type of Product Cost Type of Period Cost Problem 18-3A (Algo) Schedule of cost of goods manufactured and income statement LO P1, P2 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 Required: $ 146,000 151,000 44,000 2,483,000 48,000 62,000 70,000 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. For Year Ended December 31 Direct materials Raw materials available for use Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Cost of goods sold Goods available for sale Cost of goods sold LEONE COMPANY Income Statement For Year Ended December 31