FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company.
   

               
Advertising expense $ 27,500   Direct labor $ 671,800  
Depreciation expense—Office equipment   11,800   Income taxes expense   285,700  
Depreciation expense—Selling equipment   10,900   Indirect labor   59,300  
Depreciation expense—Factory equipment   33,500   Miscellaneous production costs   11,300  
Factory supervision   140,300   Office salaries expense   66,000  
Factory supplies used   8,300   Raw materials purchases   965,000  
Factory utilities   34,000   Rent expense—Office space   28,000  
Inventories       Rent expense—Selling space   26,400  
Raw materials, December 31, 2018   153,900   Rent expense—Factory building   82,600  
Raw materials, December 31, 2019   180,000   Maintenance expense—Factory equipment   39,900  
Work in process, December 31, 2018   19,300   Sales   4,626,600  
Work in process, December 31, 2019   23,400   Sales salaries expense   397,400  
Finished goods, December 31, 2018   168,100          
Finished goods, December 31, 2019   142,800          
 
 
 
LEONE COMPANY
Schedule of Cost of Goods Manufactured
For Year Ended December 31, 2019
Direct materials    
     
     
     
Raw materials available for use    
     
Direct materials used    
     
Factory overhead    
     
     
     
     
     
     
     
     
     
Total factory overhead costs    
Total manufacturing costs    
     
Total cost of work in process    
     
Cost of goods manufactured    
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