![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 expenso-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories s 682, 700 276, 700 59, 800 12,000 61,000 929, 000 29,000 26,300 90, 600 38, 000 4,526, 400 393, 400 $ 25, 900 Direct labor 7,900 Income taxes expense 9, 700 Indirect labor 32, 300 Miacel1aneous production costs 129, 500 Office salaries expense 9,000 Raw materials purchases 41,000 Rent expense-office space Rent expense-Selling apace 155, 200 Rent expense-Factory building 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 181,000 Maintenance expense-Factory equipment 18, 600 Sales 21,600 Sales salaries expense 169, 500 135, 800 Required: 1. Prepare the companys 2017 schedule of cost of goods manufactured LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials Raw materials available for use Add: Raw materials inventory, December 31, 2016 Direct materials used Factory overhead](http://img.homeworklib.com/questions/654e5160-4e20-11ea-bd25-edcb958bb2f8.png?x-oss-process=image/resize,w_560)
Homework Answers
Schedule of cost of goods manufactured
| Direct material | ||
| Raw material, December 31,2016 | 155200 | |
| Raw material purchase | 929000 | |
| Raw material available for use | 1084200 | |
| Less: Raw material, December 31,2017 | -181000 | |
| Direct material used | 903200 | |
| Direct labor | 682700 | |
| Factory overhead | ||
| Depreciation expense-factory equipment | 32300 | |
| Factory supervision | 129500 | |
| Factory supplies | 9000 | |
| Factory utilities | 41000 | |
| Indirect labor | 59800 | |
| Miscellaneous production Cost | 12000 | |
| Rent expense-factory building | 80600 | |
| Maintenance expense-Factory equipment | 38000 | |
| Total factory overhead | 402200 | |
| Total manufacturing cost | 1988100 | |
| Work in process, December 31,2016 | 18600 | |
| Total Cost of work in process | 2006700 | |
| Less: Work in process, December 31,2017 | -21600 | |
| Cost of goods manufactured | 1985100 |
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Required information The following information applies to the questions displayed below.] The following calendar year-end information...
Required information The following information applies to the questions displayed below.] The following calendar year-end information...
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 expenso-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories s 682, 700 276, 700 59, 800 12,000 61,000 929, 000 29,000 26,300 90, 600 38, 000 4,526, 400 393, 400 $ 25, 900 Direct labor 7,900 Income taxes...
Required information [The following information applies to the questions displayed below.] The following calendar year-end information...
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 $ 676,500 254,600 59,300 10,800 69,000 937,000 26,000 25,900 79,900 37,800 4,485,700 394,200 $ 34,700 Direct labor 11,000 Income taxes expense 10,500 Indirect labor 35,000 Miscellaneous production costs 128,900...
Required information [The following information applies to the questions displayed below.) The following calendar year-end information...
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 $ 26, 800 9, 500 10, 100 31, 600 147,000 7, 800 31,000 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, 2018 Raw materials, December 31, 2019 Work in process, December 31, 2018...
[The following information applies to the questions displayed below.] The following calendar year-end information is...
[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
$
30,600
Direct labor
$
677,100
Depreciation expense—Office equipment
9,800
Income taxes expense
259,700
Depreciation expense—Selling equipment
9,900
Indirect labor
59,800
Depreciation expense—Factory equipment
36,500
Miscellaneous production costs
11,400
Factory supervision
105,700
Office salaries expense
63,000
Factory supplies used
9,100
Raw materials purchases
943,000
Factory utilities...
Required information [The following information applies to the questions displayed below.) The following calendar year-end information...
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-Pactory 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,...
The following information applies to the questions displayed below.) The following calendar year-end information is taken...
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,...
Required information (The following information applies to the questions displayed below.) The following calendar year-end information...
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,...
Required information The following information applies to the questions displayed below.) The following calendar...
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,...
Required information (The following information applies to the questions displayed below.) The following calendar year-end information...
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,...
Required information [The following information applies to the questions displayed below.] The following calendar year-end...
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 $ 27,100 Direct labor $ 699,900 Depreciation expense—Office equipment 11,100 Income taxes expense 244,500 Depreciation expense—Selling equipment 9,900 Indirect labor 55,900 Depreciation expense—Factory equipment 39,300 Miscellaneous production costs 10,600 Factory supervision 104,600 Office salaries expense 66,000 Factory supplies used 9,900 Raw materials purchases 962,000...
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 expenso-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories s 682, 700 276, 700 59, 800 12,000 61,000 929, 000 29,000 26,300 90, 600 38, 000 4,526, 400 393, 400 $ 25, 900 Direct labor 7,900 Income taxes...
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 $ 676,500 254,600 59,300 10,800 69,000 937,000 26,000 25,900 79,900 37,800 4,485,700 394,200 $ 34,700 Direct labor 11,000 Income taxes expense 10,500 Indirect labor 35,000 Miscellaneous production costs 128,900...
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 $ 26, 800 9, 500 10, 100 31, 600 147,000 7, 800 31,000 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, 2018 Raw materials, December 31, 2019 Work in process, December 31, 2018...
[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
$
30,600
Direct labor
$
677,100
Depreciation expense—Office equipment
9,800
Income taxes expense
259,700
Depreciation expense—Selling equipment
9,900
Indirect labor
59,800
Depreciation expense—Factory equipment
36,500
Miscellaneous production costs
11,400
Factory supervision
105,700
Office salaries expense
63,000
Factory supplies used
9,100
Raw materials purchases
943,000
Factory utilities...
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-Pactory 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,...
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,...
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,...
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,...
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,...
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