Hanshaben The following year-end information is taken from the December 31 adjusted trial balance and other records of LeonCompany.Advertising expenseDepreciation expense-Office equipmentDepreciation expense-Selling equipmentDepreciation expense-Factory equipmentRaw materials purchases (all direct materials)Maintenance expense-Factory equipmentFactory utilitiesDirect laborIndirect laborOffice salaries expenseRent expense-Office spaceRent expense-Selling spaceRent expense-Factory buildingSales salaries expense$ 154,000159,00046,0002,576,000$ 45,00024,00025,00067,000770,00041,10036,400468,00070,00042,00025,00060,000Using the following additional information for Leone Company, complete the requirements below.Raw materials inventory, beginningRaw materials inventory, endingWork in process inventory, beginningSales144,000346,00050,00064,00072,000Work in process inventory, endingFinished goods inventory, beginningFinished goods inventory, endingRequired:1. Prepare the schedule of cost of goods manufactured for the current year.2. Prepare the current year income statement.

The cost of goods manufactured includes the cost of goods that are finished during the period. The…

The following year-end information is taken from the December 31 adjusted trial balance and other records of Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor office salaries expense Rent expense-Office space Rent expense-Selling space $ 45,000 24,000 25,000 67,000 770,000 41,100 36,400 468,000 70,000 42,000 25,000 60,000

The following year-end information is taken from the December 31 adjusted trial balance and other records of Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor office salaries expense Rent expense-Office space Rent expense-Selling space $ 45,000 24,000 25,000 67,000 770,000 41,100 36,400 468,000 70,000 42,000 25,000 60,000

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

ChapterE: Departmental Accounting

Section: Chapter Questions

Problem 1P: Bay Book and Software has two sales departments: Book and Software. After recording and posting all...

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The following calendar-year information is taken from the adjusted trial balance and other records of Dahlia Company. Advertising expense . $ 19,125 Depreciation expense—Office equipment 8,750 Depreciation expense—Selling equipment . 10,000 Depreciation expense—Factory equipment 32,500 Factory supervision . 122,500 Factory supplies used (indirect materials) 15,750 Factory utilities 36,250 Inventories Raw materials, beginning 177,500 Raw materials, ending 168,125 Work in process, beginning . 15,875 Work in process, ending . 14,000 Finished goods, beginning . 164,375 Finished goods, ending 129,000 Direct labor $ 650,750 Indirect labor 60,000 Miscellaneous production costs . . . . . . . . . . . . . 8,500 Office salaries expense . 100,875 Raw materials purchases (direct materials) . 872,500 Rent expense—Office space 21,125 Rent expense—Selling space . 25,750 Rent expense—Factory building 79,750 Maintenance expense—Factory equipment 27,875 Sales . 3,275,000 Sales discounts . 57,500 Sales…
The following account balances and other information were taken from the accounting records of Langga Corporation for the year ended Dec. 31, 2019. Use the information to prepare a schedule of manufacturing overhead costs, a manufacturing statement (show only the total overhead cost), and a statement of comprehensive income. Advertising Expense Amortization of Patents Uncollectible Accounts Expense P 85,000 16,000 28,000 37,000 133,000 78,000 250,000 62,000 74,000 21,000 Depreciation Expense-Office Equipment Depreciation Expense-Factory Building Depreciation Expense-Factory Equipment Direct Labor Factory Insurance Expense Factory Supervision Factory Supplies Expense Factory Utilities Finished Goods Inventory, Dec. 31, 2018 Finished Goods Inventory, Dec. 31, 2019 Work in Process Inventory, Dec. 31, 2018 Work in Process Inventory, Dec. 31, 2019 Indirect Labor 115,000 15,000 12,500 8,000 9,000 26,000 25,000 55,000 14,000 60,000 78,000 313,000 Interest Expense Miscellaneous Expenses…
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