Required information [The following information applies to the questions displayed below.] The following calendar year-end information...

  

    

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Required information [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 10,400 9,900 31,700 112,500 9,900 30,000 168, 100 190,000 19,600 21,300 163,300 139, 100 Direct labor Income taxes expense Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 683,000 257, 100 56, 200 11,700 67,000| 969,000 969 888 28,000 28.000 29,900 77, 300 36,900 4,476,600| 398, 100 Required: 1. Prepare the company's 2019 schedule of cost of goods manufactured. 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 LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 0 $ O 2. Prepare the company's 2019 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses. Cost of goods sold Goods available for sale Cost of goods sold Operating expenses Selling expenses LEONE COMPANY Income Statement For Year Ended December 31, 2019 Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income Required information [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 10,400 9,900 31,700 112,500 9,900 30,000 168, 100 190,000 19,600 21,300 163,300 139, 100 Direct labor Income taxes expense Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 683,000 257, 100 56, 200 11,700 67,000| 969,000 969 888 28,000 28.000 29,900 77, 300 36,900 4,476,600| 398, 100 Required: 1. Prepare the company's 2019 schedule of cost of goods manufactured. 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 LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 0 $ O 2. Prepare the company's 2019 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses. Cost of goods sold Goods available for sale Cost of goods sold Operating expenses Selling expenses LEONE COMPANY Income Statement For Year Ended December 31, 2019 Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income

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Leone Company Schedule of Cost of Goods Manufactured For the year ended December 31 2019 Particulars ... View the full answer