The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense $ 49,000 Depreciation expense—Office equipment 28,000 Depreciation expense—Selling equipment 29,000 Depreciation expense—Factory equipment 71,000 Raw materials purchases (all direct materials) 810,000 Maintenance expense—Factory equipment 42,300 Factory utilities 37,200 Direct labor 484,000 Indirect labor 73,000 Office salaries expense 44,000 Rent expense—Office space 26,000 Rent expense—Selling space 62,000 Rent expense—Factory building 149,000 Sales salaries expense 358,000   Use the following additional information for Leone Company Raw materials inventory, beginning $ 162,000 Raw materials inventory, ending 167,000 Work in process inventory, beginning 49,000 Sales 2,695,000 Work in process inventory, ending 53,000 Finished goods inventory, beginning 69,000 Finished goods inventory, ending 77,000   Prepare the schedule of cost of goods manufactured for the current year.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company.

Advertising expense $ 49,000
Depreciation expense—Office equipment 28,000
Depreciation expense—Selling equipment 29,000
Depreciation expense—Factory equipment 71,000
Raw materials purchases (all direct materials) 810,000
Maintenance expense—Factory equipment 42,300
Factory utilities 37,200
Direct labor 484,000
Indirect labor 73,000
Office salaries expense 44,000
Rent expense—Office space 26,000
Rent expense—Selling space 62,000
Rent expense—Factory building 149,000
Sales salaries expense 358,000

 

Use the following additional information for Leone Company

Raw materials inventory, beginning $ 162,000
Raw materials inventory, ending 167,000
Work in process inventory, beginning 49,000
Sales 2,695,000
Work in process inventory, ending 53,000
Finished goods inventory, beginning 69,000
Finished goods inventory, ending 77,000

 

Prepare the schedule of cost of goods manufactured for the current year.

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