Question

Homework 0 Saved Required information The following information applies to the questions displayed below) The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company $ Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2016 Raw materials, December 31, 2017 Work in process, December 31, 2016 Work in process, December 31, 2017 Finished goods, December 31, 2016 Finished goods, December 31, 2017 $26.100 Direct labor 11.000 Income taxes expense 10,300 Indirect labor 35,300 Miscellaneous production costs 119.900 office salaries expense 9.709 R aterials purchases 40,000 Rent expense-office space Rent expense-selling space 164,200 Rent expense-Factory building 175,000 Maintenance expense-Factory equipment 19.100 Sales 24,000 Sales salaries expense 168,700 142,600 685,600 288,700 59,100 1e, see 61,000 928.000 27,000 27,700 82,200 38,700 4,615,700 394,300 Required: 1. Prepare the company's 2017 schedule of cost of goods manufactured LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Prey 12 of 3 Next >

Answer 1

$ $ 917,200 685,600 LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials Raw materials inventory, December 31, 2016 $ 164,200 Raw materials purchases $ 928,000 Raw materials available for use $ 1,092,200 Less: Raw materials inventory, December 31, 2017 $ 175,000 Direct materials used Direct labor Factory overhead Depreciation expense-Factory equipment $ 35,300 Factory supervision $ 119,900 Factory supplies used 9,700 Factory utilities 40,000 Rent expense-Factory building 82,200 Maintenance expense-Factory equipment 38,700 Miscellaneous production costs 10,500 Indirect labor 59,100 Total factory overhead costs Total manufacturing costs Add: Work in process inventory, December 31, 2016 Total cost of work in process Less: Work in process inventory, December 31, 2017 Cost of goods manufactured $ 395,400 $ 1,998,200 $ 19,100 $ 2,017,300 $ 24,000 $ 1,993,300