The following information applies to the questions displayed below The following

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The following information applies to the questions displayed below The following calendar year-end information is taken from the December 31, 2015, adjusted trial balance and other records of Leone Company. 29,900 Direct labor $690,300 255,200 58,600 Advertising expense Depreciation expense-Office 8,200 Income taxes expense equipment equipment equipment Depreciation expense-Selling 10,400 Indirect labor Depreciation expense-Factory 32,700 105,900 9,300 39,000 Miscellaneous production costs Office salaries expense Raw materials purchases Rent expense-Office space Rent expense-Selling space Rent expense-Factory building 10.200 62.000 926.000 23,000 26,500 80,400 36,200 Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2014 157,400 -Factory materials, December 31, 2015 187000 Manenance expense-Fac cember 31, 2015 Raw materials, De 187,000 equipment Sales Sales salaries expense 15,900 21,200 162,000 138,600 4,535,500 398,000 Work in process, December 31, 2014 Work in process, December 31, 2015 Finished goods, December 31, 2014 Finished goods, December 31, 2015

Explanation / Answer

Leone Company Cost of Goods Manufactured For the year ended December 31, 2015 $ $ Direct Materials (+) Beginning raw materials inventory 157400 Raw materials purchases 926000 Total raw material available 1083400 (-) Ending raw materials inventory -187000 Direct materials used 896400 Direct labor 690300 Factory overhead Depreciation expense - Factory equipment 32700 Factory supervision 105900 Factory supplies used 9300 Factory utilities 39000 Indirect labor 58600 Miscellaneous production cost 10200 Rent expense - Factory building 80400 Maintenance expense - Factory equipment 36200 372300 Total manufacturing cost 1959000 (+) Beginning Work-in-process inventory 15900 1974900 (-) Ending work-in-process inventory -21200 Cost of Goods Manufactured 1953700

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