Operating bruces boomerang production business

Assignment Help Managerial Accounting
Reference no: EM131692349

A) The following calendar year-end information is taken from the December 31, 2015, adjusted trial balance and other records of Leone Company

Advertising expense

$

28,750


Direct labor

$

675,480


Depreciation expense-Office equipment


7,250


Income taxes expense


233,725


Depreciation expense-Selling equipment


8,600


Indirect labor


56,875


Depreciation expense-Factory equipment


33,550


Miscellaneous production costs


8,425


Factory supervision


102,600


Office salaries expense


63,000


Factory supplies used


7,350


Raw materials purchases


925,000


Factory utilities


33,000


Rent expense-Office space


22,000


Inventories




Rent expense-Selling space


26,100


Raw materials, December 31, 2014


166,850


Rent expense-Factory building


76,800


Raw materials, December 31, 2015


182,000


Maintenance expense-Factory equipment


35,400


Work in process, December 31, 2014


15,700


Sales


4,462,500


Work in process, December 31, 2015


19,380


Sales salaries expense


392,560


Finished goods, December 31, 2014


167,350






Finished goods, December 31, 2015


136,490



B) Prepare the company's 2015 income statement that reports separate categories for (a) selling expenses and (b) general administrative expenses.

Reference no: EM131692349

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