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