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[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
[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 $ 28,000 Depreciation expense-Office equipment 7,000 Depreciation expense-Selling equipment 8,000 Factory utilities Depreciation expense-Factory equipment Maintenance expense-Factory equipment Direct labor Indirect labor 50,000 Raw materials purchases (all direct materials) 600,000 36,000 33,000 400,000 60,000 Office salaries expense 36,000 Rent expense-office space 22,000 Rent expense-Selling space 53,000 Rent expense-Factory building 127,000 Sales salaries expense 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 Required: $ 120,000 125,000 36,000 2,098,000 40,000 50,000 58,000 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 4
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