Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company Advertising expense $ 38,000 Depreciation expense-Office equipment 17,000 Depreciation expense-Selling equipment 18,000 Depreciation expense-Factory equipment 60,000 Raw materials purchases (all direct materials) 700,000 Maintenance expense-Factory equipment 39,000 Factory utilities 35,000 Direct labor 440,000 Indirect labor 66,000 Office salaries expense. Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense 40,000 24,000 58,000 139,000 334,000 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. (Leave no cell blank. Enter "NA- Not a product cost" or "NA - Not a period cost" for expenses that are not product cost or period cost.) Costs. 1. Advertising expense 2 Depreciation expense-Office equipment 3. Depreciation expense-Selling equipment 4 Depreciation expense-Factory equipment 5. Raw materials purchases (all direct materials) 6 Maintenance expense-Factory equipment 7. Factory utilities 8. Direct labor 9 Indirect labor 10. Office salaries expense 11. Rent expense-Office space 12 Rent expense-Selling space 13. Rent expense-Factory building 14 Sales salaries expense Type of Product Cost Type of Period Cost sa Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company Advertising expense $ 38,000 Depreciation expense-office equipment 17,000 Depreciation expense-Selling equipment Depreciation expense-Factory equipment 18,000 60,000 Raw materials purchases (all direct materials) 700,000 Maintenance expense-Factory equipment 39,000 Factory utilities 35,000 Direct labor 440,000 Indirect labor office salaries expense 66,000 40,000 Rent expense-Office space 24,000 Rent expense-Selling space Rent expense-Factory building Sales salaries expense 58,000 139,000 334,000 Problem 18-3A (Algo) Schedule of cost of goods manufactured and income statement LO P1, P2 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 Hork in process inventory, ending Finished goods inventory, beginning Finished goods Inventory, ending Required: $140,000 145,000 42,000 2,389,000 46,000 59,000 67,000 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement.