Answer Happy

2 Part 2 of 2 17.5 points ebook P References The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense $ 28,750 7,250 8,600 $ 166,850 182,000 15,700 4,462,500 19,380 167,350 136,490 49,325 925,000 35,400 33,000 675,488 159,475 63,000 22,000 26,180 76,800 392,560 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: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement

Part 2 of 2 17.5 points Book Pet References Mc Graw Required 1 Required 2 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 Raw materials available for use Direct materials used Factory overhead < Prev 8N of 2 # Next >

N Part 2 of 2 17.5 poirts *Book References Required information 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 Required 2

Part 2 of 2 17.5 points eBook Pert References Required 1 Required 2 Prepare the current year income statement. Cost of goods sold Goods available for sale Cost of goods sold LEONE COMPANY Income Statement For Year Ended December 31 < Required 1 Required 2 >

5 ents eBook Print ferences Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $ 28,750 7,250 8,600 49,325 925,000 $ 166,850 182,000 15,700 4,462,500 19,380 167,350 136,490 35,400 33,000 675,480 159,475 63,000 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 22,000 26,100 76,800 392,560