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3. Synder Corp., a lamp manufacturer, provide the following information for the year ended December 2008: Inventories Materials Work in process Finished goods Beginning $50,000 Ending $25,000 65,000 100,000 40,000 43,000 Other information: Depreciation: Plant Building & Equipment Materials purchases Insurance on plant Sales salaries expense $15,000 Repairs & maintenance- plant 155,000 Indirect labour 20,000 Direct labour 48,000 Administrative expenses Sales revenue $5,000 30,000 120,000 52,000 550,700 Requirements: i) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2008 Prepare an income statement for Synder Corp. for the year ended December 31, ii)

3. Synder Corp., a lamp manufacturer, provide the following information for the year ended December 2008: Inventories Materials Work in process Finished goods Beginning $50,000 Ending $25,000 65,000 100,000 40,000 43,000 Other information: Depreciation: Plant Building & Equipment Materials purchases Insurance on plant Sales salaries expense $15,000 Repairs & maintenance- plant 155,000 Indirect labour 20,000 Direct labour 48,000 Administrative expenses Sales revenue $5,000 30,000 120,000 52,000 550,700 Requirements: i) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2008 Prepare an income statement for Synder Corp. for the year ended December 31, ii)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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3. Synder Corp., a lamp manufacturer, provide the following information for the year ended December 2008: Beginning $50,000 Inventories Materials Work in process Finished goods Ending $25,000 65,000 100,000 40,000 43,000 Other information: Depreciation: Plant Building & Equipment Materials purchases Insurance on plant Sales salaries expense $15,000 Repairs & maintenance- plant 155,000 Indirect labour 20,000 Direct labour 48,000 Administrative expenses Sales revenue $5,000 30,000 120,000 52,000 550,700 Requirements: i) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2008 Prepare an income statement for Synder Corp. for the year ended December 31, 2008 ii) iii) What is the unit product cost if Synder manufactured 3,000 lamps for the year?
Transcribed Image Text:3. Synder Corp., a lamp manufacturer, provide the following information for the year ended December 2008: Beginning $50,000 Inventories Materials Work in process Finished goods Ending $25,000 65,000 100,000 40,000 43,000 Other information: Depreciation: Plant Building & Equipment Materials purchases Insurance on plant Sales salaries expense $15,000 Repairs & maintenance- plant 155,000 Indirect labour 20,000 Direct labour 48,000 Administrative expenses Sales revenue $5,000 30,000 120,000 52,000 550,700 Requirements: i) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2008 Prepare an income statement for Synder Corp. for the year ended December 31, 2008 ii) iii) What is the unit product cost if Synder manufactured 3,000 lamps for the year?
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