Please do not give solution in image format thanku esAdvertising expenseDepreciation expense-Office equipmentDepreciation expense-Selling equipmentDepreciation expense-Factory equipment iRaw materials purchases (all direct materials)Maintenance expense-Factory equipmentFactory utilitiesDirect laborIndirect laborOffice salaries expenseRent expense-Office spaceRent expense-Selling spaceRent expense-Factory buildingSales salaries expenseWork in process inventory, endingFinished goods inventory, beginningFinished goods inventory, ending$ 58,00037,00838,00080,000900,00045,000$ 180,000185,00054,0002,960,00058,00076,00084,00039,000520,000Using the following additional information for Leone Company, complete the requirements below.Raw materials inventory, beginningRaw materials inventory, endingWork in process inventory, beginningSales78,00047,00028,00067,000161,000386,000Required: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.31

The cost of goods manufactured involves all the costs associated with the production of the…

Answered: 1. Prepare the schedule of cost of…

1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 5PA: Statement of cost of goods manufactured and income statement for a manufacturing company The...

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Question

Please do not give solution in image format thanku

es
Advertising expense
Depreciation expense-Office equipment
Depreciation expense-Selling equipment
Depreciation expense-Factory equipment i
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
Work in process inventory, ending
Finished goods inventory, beginning
Finished goods inventory, ending
$ 58,000
37,008
38,000
80,000
900,000
45,000
$ 180,000
185,000
54,000
2,960,000
58,000
76,000
84,000
39,000
520,000
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
78,000
47,000
28,000
67,000
161,000
386,000
Required:
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.
31

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Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Robstown Corporation for 20Y8: Instructions 1. Prepare the 20Y8 statement of cost of goods manufactured. 2. Prepare the 20Y8 income statement.
0 jor pro se Used Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Data table Direct Materials Used: Direct Materials Used Print Other information: Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses Manufacturing Overhead: Cost of Goods Manufactured Beginning Ending $ Done Total Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2. What is the unit product cost if Clark manufactured 4,380 lamps for the year? 57,000 $ 22,000 103,000 67,000 50,000 52,000 $ 4 Clark, Corp. Schedule of Cost of Goods Manufactured Year Ended December 31, 2024 11,000 155,000 23,000 43,000 13,000 40,000 125,000 53,000 - X
Justine Industries is calculating its Cost of Goods Manufactured at year-end. The company's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $17,000 and an ending balance of $12,000. During the year, the company purchased $55,000 of direct materials. Direct labor for the year totaled $121,000, while manufacturing overhead amounted to $151,000. The Work in Process Inventory account had a beginning balance of $22,000 and an ending balance of $21,000. Assume that Raw Materials Inventory contains only direct materials. Compute the Cost of Goods Manufactured for the year. (Hint: The first step is to calculate the direct materials used during the year.) ~
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Make an income statement
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List of accounts Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Cash Cost of Completed Service Contracts Cost of Goods Sold Depreciation Expense Employer Fringe Benefits Payable Employer Payroll Taxes Payable Factory Labor Factory Wages Payable Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Property Taxes Raw Materials Inventory Salaries and Wages Payable Sales Revenue Service Contracts in Process Service Salaries and Wages Supplies Utilities Payable Work in Process Inventory
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Complete the information in the cost computations shown here:
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