Homework Answers
Solution
| LEONE COMPANY | ||
| Cost of Goods Manufactured | ||
| For year ended December 31 2017 | ||
| Direct Material | ||
| Raw material Inventory Dec 31 2016 | $ 163,200.00 | |
| Raw material Purchased | $ 985,000.00 | |
| Raw material available for use | $ 1,148,200.00 | |
| Less: Raw material Inventory December 31 2017 | $ 178,000.00 | |
| Direct Material Used | $ 970,200.00 | |
| Direct labor | $ 678,500.00 | |
| Factory Overheads | ||
| Factory Supervision | $ 146,000.00 | |
| factory Supplies Used | $ 7,600.00 | |
| Indirect labor | $ 59,200.00 | |
| Rent- Factory Building | $ 80,200.00 | |
| Maintenance - Factory Equipment | $ 37,200.00 | |
| Depreciation - Factory Equipment | $ 33,200.00 | |
| Miscellanious Production Cost | $ 11,000.00 | |
| Factory Utilities | $ 44,000.00 | |
| Total factory overheads | $ 418,400.00 | |
| Total manufacturing Cost | $ 2,067,100.00 | |
| Add: Work in process December 31 2016 | $ 16,700.00 | |
| Total Work in process | 2,083,800.00 | |
| Less: Work in progress December 31 2017 | $ 20,400.00 | |
| Cost of Goods Manufactured | $ 2,063,400.00 | |
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Required Information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis...
Required Information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO...
Required Information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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...
Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO...
Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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,...
! Required information Problem 1-3A Schedule of cost of goods manufactured and income statement; inventory analysis...
! Required information Problem 1-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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 $ 28,750 7,250 8,600 33,550 102,600 7,350 33,000 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,...
Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO...
Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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...
Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO...
Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 (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,...
Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1...
Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 (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,...
Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO...
Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 (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,...
i need it to be answered in exactly indicated forms amework Required information Problem 14-3A Schedule...
i need it to be answered in exactly indicated
forms
amework Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 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,...
Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO...
Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 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 688,90 6e, 00 68,00 Depneciation expen Depreciation elling equipment equipeent 10,900 Incose taxes expense 10,680 Indl 9,400 142,300 office salarles expense Factory supplies used Factory utilitles 8,400 Ra 31,000 Rent expense-Office...
Required information Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Direct materials...
Required information Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Direct materials Raw materials purchases $ Raw materials inventory, December 31, 2018 984,000 165,000 1,149,000 $ 1,149,000 Raw materials available for use Less: Raw materials inventory, December 31, 2019 Direct materials used Finished goods, December 31, 2019 Factory overhead Depreciation expense---Factory equipment Factory supervision Factory supplies used Factory utilities Indirect labor Maintenance expense--Factory equipment Miscellaneous production costs Rent expense-Factory building ces 0 1,149,000 Total factory overhead...
Required Information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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...
Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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,...
! Required information Problem 1-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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 $ 28,750 7,250 8,600 33,550 102,600 7,350 33,000 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,...
Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 [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...
Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 (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,...
Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 (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,...
Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 (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,...
i need it to be answered in exactly indicated
forms
amework Required information Problem 14-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 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,...
Required information Problem 18-3A Schedule of cost of goods manufactured and income statement; inventory analysis LO P2, A1 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 688,90 6e, 00 68,00 Depneciation expen Depreciation elling equipment equipeent 10,900 Incose taxes expense 10,680 Indl 9,400 142,300 office salarles expense Factory supplies used Factory utilitles 8,400 Ra 31,000 Rent expense-Office...
Required information Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Direct materials Raw materials purchases $ Raw materials inventory, December 31, 2018 984,000 165,000 1,149,000 $ 1,149,000 Raw materials available for use Less: Raw materials inventory, December 31, 2019 Direct materials used Finished goods, December 31, 2019 Factory overhead Depreciation expense---Factory equipment Factory supervision Factory supplies used Factory utilities Indirect labor Maintenance expense--Factory equipment Miscellaneous production costs Rent expense-Factory building ces 0 1,149,000 Total factory overhead...
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