Required information Use the following information for the Problems below. (Static) (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 $ 28,750 7,250 8,600 49,325 925.000 Chapter 18 Homework 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 ,33 675,480 159, 475 63,000 22,000 26,100 76,800 392,560 Problem 18-3A (Static) 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 $ 166,850 Raw materials inventory, ending 182,000 Work in process inventory, beginning 15,700 Sales 4,462,500 Work in process inventory, ending 19,380 Finished goods inventory, beginning 167,350 Finished goods inventory, ending 136,490 Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. ! Required information 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 Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Required 1 Required 2 Prepare the current year income statement. LEONE COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold