Question: I only require the answer to Problem 18-3A. I have added the information required to answer P18-3A from P18-2A. Please let me know if you


I only require the answer to Problem 18-3A. I have added the information required to answer P18-3A from P18-2A. Please let me know if you need any more info.
Problem 18-2A Classifying costs c2 c3 The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company. S 8,425 63,000 Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used (indirect materials) $ 28,750 Miscellaneous production costs 7,250 Office salaries expense 8,600 Raw materials purchases (direct materials) 33,550 Rent expense-Office space 102,600 Rent expense-Selling space 925,000 22,000 26,100 76,800 Factory utilities 7,350 Rent expense-Factory building 33,000 Maintenance expense-Factory equipment 675,480 Sales 35,400 Direct labor 4,462,500 Indirect labor 56,875 Sales salaries expense 392,560 Required 1. Classify each cost as either a product or period cost. 2. Classify each product cost as either direct materials, direct labor, or factory overhead. 3. Classify each period cost as either selling expenses or general and administrative expenses. Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis P2 A1 Using the data from Problem 18-2A and the following additional inventory information for Leone Company, complete the requirements below. Assume income tax expense is $233,725 for the year. $166,850 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 182,000 15,700 19,380 167,350 136,490 Required 1. Prepare the company's 2019 schedule of cost of goods manufactured. Check (1) Cost of goods manufactured, $1,935,650 2. Prepare the company's 2019 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses
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