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Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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 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 $ 29,200 Direct labor 9.000 Income taxes expense 10,400 Indirect labor BY,00 Miscellaneous production costs 130,200 Office salaries expense 9,600 Raw material purchases 30,000 Rent expense-Office space Rent expense-Selling space 156,900 Rent expense-Factory bullding 187,000 Maintenance expense Factory equipment 18,900 Sales 18,700 Sales salaries expense 165.000 143,00 682,100 280,000 57,700 10,000 62,000 985.000 27.000 27,600 0,600 15,600 4,575, 300 Problem 18-3A Part 1 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 Direct materials used Required information Factory overhead Total factory overhead costs Total manufacturing costs Total cost of work in process Cost of goods manufactured Problem 18-3A Part 2 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 Required information Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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 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 $ 29,200 Direct labor 9.000 Income taxes expense 10,400 Indirect labor BY,00 Miscellaneous production costs 130,200 Office salaries expense 9,600 Raw material purchases 30,000 Rent expense-Office space Rent expense-Selling space 156,900 Rent expense-Factory bullding 187,000 Maintenance expense Factory equipment 18,900 Sales 18,700 Sales salaries expense 165.000 143,00 682,100 280,000 57,700 10,000 62,000 985.000 27.000 27,600 0,600 15,600 4,575, 300 Problem 18-3A Part 1 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 Direct materials used Required information Factory overhead Total factory overhead costs Total manufacturing costs Total cost of work in process Cost of goods manufactured Problem 18-3A Part 2 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 Required information Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income