Solve 14-3A

Problem 14-2A Classifying costs C2 The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. 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 period cost, classify it as a selling expense or a general and administrative expense. Problem 14-3A Schedule of cost of goods manufactured and income statement P1 P2 Using the data from Problem 14-2A and the following additional information for Leone Company, complete the requirements below: Required 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income satement. Check (1) Cost of goods manufactured, \$1,935,650