Synder corp present the following information for the year ended December 2008. Inventories Beginning Ending Materials $50,000 $25,000 Work in progress $100,000 $65,000 Finished Goods $40,000 $43,000 Other Information: Depreciation of plant, building and equipment $15,000 Material purchases $155,000 Insurance on plant $20,000 Sales Salaries Expense $48,000 Repairs and maintenance-plant $5,000 Indirect Labour $30,000 Direct Labour $120,000 Admnistrative expenses $52,000 Sales Revenue $550,700 1. Prepare a schedule of cost of goods manufactured FOR THE YEAR ended December 31,2008 2. Prepare an income statement for synder corp for the year ended December 31,2008 3. What is the unit product cost if synder manufactured 3000 lamps for the year.

Synder corp present the following information for the year ended December 2008. Inventories Beginning Ending Materials $50,000 $25,000 Work in progress $100,000 $65,000 Finished Goods $40,000 $43,000 Other Information: Depreciation of plant, building and equipment $15,000 Material purchases $155,000 Insurance on plant $20,000 Sales Salaries Expense $48,000 Repairs and maintenance-plant $5,000 Indirect Labour $30,000 Direct Labour $120,000 Admnistrative expenses $52,000 Sales Revenue $550,700 1. Prepare a schedule of cost of goods manufactured FOR THE YEAR ended December 31,2008 2. Prepare an income statement for synder corp for the year ended December 31,2008 3. What is the unit product cost if synder manufactured 3000 lamps for the year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Synder Corp., a lamp manufacturer, provide 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 Other information: 40,000 43,000 $15,000 Repairs & maintenance- plant $5,000 155,000 Indirect labour 30,000 20,000 Direct labour 120,000 48,000 Administrative expenses 52,000 Sales revenue 550,700 Depreciation: Plant Building & Equipment Materials purchases Insurance on plant Sales salaries expense Requirements: i) Prepare a schedule of cost of goods manufactured for the year ended December 31, 2008 ii) Prepare an income statement for Synder Corp. for the year ended December 31, 2008 iii) What is the unit product cost if Synder manufactured 3,000 lamps for the year?
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