The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company.

Advertising expense	$ 52,000
Depreciation expenseOffice equipment	31,000
Depreciation expenseSelling equipment	32,000
Depreciation expenseFactory equipment	74,000
Raw materials purchases (all direct materials)	840,000
Maintenance expenseFactory equipment	43,200
Factory utilities	37,800
Direct labor	496,000
Indirect labor	74,000
Office salaries expense	44,000
Rent expenseOffice space	26,000
Rent expenseSelling space	62,000
Rent expenseFactory building	149,000
Sales salaries expense	358,000

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.

Using the following additional information for Leone Company, complete the requirements below. 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. 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 \begin{tabular}{|l|r|} \hline & \\ \hline & \\ \hline Raw materials available for use & \\ \hline & \\ \hline \end{tabular} Direct materials used LEONE COMPANY Income Statement For Year Ended December 31