The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company.

Advertising expense	$25,800	Direct labor	$700,000
Depreciation expense – Office equipment	11,500	Income taxes expense	278,200
Depreciation expense – Selling equipment	9,700	Indirect labor	55,300
Depreciation expense – Factory equipment	38,700	Miscellaneous production costs	10,600
Factory supervision	130,800	Office salaries expense	67,000
Factory supplies used	7,600	Raw materials purchases	952,000
Factory utilities	37,000	Rent expense – Office space	24,000
Inventories Rent expense – Selling space	28,100	Raw materials, December 31, 2016	154,900
Rent expense – Factory building	79,300	Raw materials, December 31, 2017	177,000
Maintenance expense – Factory equipment	37,400	Work in process, December 31, 2016	15,600
Sales	4,586,000	Work in process, December 31, 2017	18,400
Sales salaries expense	390,100
Finished goods, December 31, 2016	160,600
Finished goods, December 31, 2017	138,800

Required:

1. Prepare the company's 2017 schedule of cost of goods manufactured.

2. Prepare the company's 2017 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses.

Answer rating: 100% (QA)

eone Companys 2017 schedule of cost of goods manufactured in Cost of raw materialsRM u... View the full answer