Requlred Information [The following Information applies to the questions displayed below.] The following year-end Information is...

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Requlred Information [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. $ 42,000 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 21,000 22,000 64, 000 740, 000 40, 200 35,800 456,000 68,000 41,000 25,000 60, 000 144, 000 346, 000 Indirect labor office salaries expense Rent expense-office space Rent expense-selling space Rent expense-Factory building Sales salaries expense 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 $ 148,e0e 153,e0e 44, 000 Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending 2,506, e00 48,e00 62,eee 70,000 Requlred: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year Income statement. Complete this question by entering your answers in the tabs below. 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 > Complete this question by entering your answers in the tabs below. 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 < Required 1 Required 2 > Requlred Information [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. $ 42,000 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 21,000 22,000 64, 000 740, 000 40, 200 35,800 456,000 68,000 41,000 25,000 60, 000 144, 000 346, 000 Indirect labor office salaries expense Rent expense-office space Rent expense-selling space Rent expense-Factory building Sales salaries expense 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 $ 148,e0e 153,e0e 44, 000 Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending 2,506, e00 48,e00 62,eee 70,000 Requlred: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year Income statement. Complete this question by entering your answers in the tabs below. 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 > Complete this question by entering your answers in the tabs below. 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 < Required 1 Required 2 >

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Solutlon 1SCHEDULE OF COST OF GOODS MANUFACTURED LEONE COMPANY Inc... View the full answer