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Leftovers Company started year $1$ with $$225,000$ in its cash and common stock accounts.

During year $1,$ Leftovers Company paid $$168,750$ cash for employee compensation and $$51,750$ cash for materials.

Required

a$.$ Determine the total amount of assets and the amount of expense shown on the year $1$ financial statements assuming Leftovers used the labor and materials to make $1,500$ chairs. Further, assume that the company sold $1,200$ of the chairs it made. State the name of the expense account$($s$)$ shown on the income statement.

b$.$ Determine the total amount of assets and the amount of expense shown on the year $1$ financial statements assuming Leftovers used the labor and materials to provide dental cleaning services to $500$ patients. State the name of the expense account$($s$)$ shown on the inctme statement.

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Required $A$

Required B

Determine the total amount of assets and the amount of expense shown on the year $1$ financial statements assuming Perez used the labor and materials to make $1,500$ chairs. Further, assume that Perez sold $1,200$ of the chairs it made. State the name$($s$)$ of the expense account shown on the income statement.

$\backslash$table$[[$Total assets,$],[$Total expenses,$],[$Name of the expense,Manufacturing overhead$]]$

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