Question

Required information [The following information applies to the questions displayed below) The following calendar year-end information is taken from the December 31, 2019, 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, 2018 Raw materials, December 31, 2019 Work in process, December 31, 2018 Work in process, December 31, 2019 Finished goods, December 31, 2018 Finished goods, December 31, 2019 $ 29,500 Direct labor 10,800 Income taxes expense 9,500 Indirect labor 35,100 Miscellaneous production costs 149, 300 office salaries expense 3,000 Raw materials purchases 44,000 Rent expense-Office space Rent expense-Selling space 150,400 Rent expense-Factory building 184,000 Maintenance expense-Factory equipment 16,700 Sales 20,000 Sales salaries expense 163,600 140,800 $ 693,400 275,800 56,100 10,400 60,000 972,000 25,000 29,000 76,300 38,300 4,556,000 398,500 Required: 1. Prepare the company's 2019 schedule of cost of goods manufactured

Answer 1

Schedule of Cost of goods manufactured:
Direct material:
Beginning inventory of Raw material	1,50,400
Add: Purchases made		9,72,000
Raw material available for use		11,22,400
Less: Ending inventory of Raw material	1,84,000
Direct material used				9,38,400
Direct Labour used				6,93,400
Factory overheads:
Depreciation-Factory equipment	35,100
Factory supervision			1,49,300
Factory supplies			8,800
Factory Utilities			44,000
Indirect labour			56,100
Misc. Production cost		10,400
Rent expense-Factory building		76,300
Maintenance expense-Factory equipment	38,300
Total Factory overheads			4,18,300
Total Manufacturing cost			2050100
Add: Beginning Work in process inventory		16,700
Total cost of Work in process			20,66,800
Less: Ending Work in process inventory		20,000
Total cost of goods manufactured		20,46,800