Synder Corp., a lamp manufacturer, provide the following information for the year ended December 2008: Inventories Materials Work in process Finished goods Other information: Depreciation: Plant Building & Equipment Materials purchases Insurance on plant Sales salaries expense Beginning Ending $50,000 $25,000 65,000 43,000 100,000 40,000 $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: Prepare a schedule of cost of goods manufactured for the year ended December 31, 2008 ii) i) 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?
Synder Corp., a lamp manufacturer, provide the following information for the year ended December 2008: Inventories Materials Work in process Finished goods Other information: Depreciation: Plant Building & Equipment Materials purchases Insurance on plant Sales salaries expense Beginning Ending $50,000 $25,000 65,000 43,000 100,000 40,000 $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: Prepare a schedule of cost of goods manufactured for the year ended December 31, 2008 ii) i) 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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Synder Corp., a lamp manufacturer, provide the following information for the year
ended December 2008:
Inventories
Materials
Beginning Ending
$50,000 $25,000
65,000
Work in process
Finished goods
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
ii)
Prepare an income statement for Synder Corp. for the year ended December 31,
2008
What is the unit product cost if Synder manufactured 3,000 lamps for the year?
iii)
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