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The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company. Required: 1. Prepare the
The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company.
Required: 1. Prepare the companys 2019 schedule of cost of goods manufactured.
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 $ 30,800 Direct labor 11,600 Income taxes expense 9,800 Indirect labor 35,300 Miscellaneous production costs 125, 900 office salaries expense 8,200 Raw materials purchases 34,000 Rent expense-office space Rent expense-Selling space 169, 700 Rent expense-Factory building 180,000 Maintenance expense-Factory equipment 17,500 Sales 19,800 Sales salaries expense 163,800 143, 300 $ 680,600 246,900 55,200 11,800 68,000 989,000 29,000 26,600 80,000 39,000 4,626,600 395,400 LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Direct materials Raw materials available for use Direct materials used Factory overhead Total factory overhead costs Total manufacturing costs Total cost of work in process Cost of goods manufactured
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