Synder Corp., a lamp manufacturer, provide the following information for the yearended December 2008:InventoriesMaterialsWork in processFinished goodsOther information:Depreciation: Plant Building& EquipmentMaterials purchasesInsurance on plantSales salaries expenseBeginning Ending$50,000 $25,00065,00043,000100,00040,000$15,000 Repairs & maintenance- plant155,000 Indirect labour20,000 Direct labour48,000 Administrative expensesSales revenue$5,00030,000120,00052,000550,700Requirements:i)Prepare a schedule of cost of goods manufactured for the year ended December31, 2008ii)Prepare an income statement for Synder Corp. for the year ended December 31,2008iii)What is the unit product cost if Synder manufactured 3,000 lamps for the year?

The income statement represents the net income or net loss calculated by deducting the expenses from…

Answered: Synder Corp., a lamp manufacturer,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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CO Selected data from Design Corporation for 2016 is as follows: Inventories Ending $40,000 Beginning Raw Materials Work in process Finished goods Other information: Plant janitorial services Administrative expenses Raw materials purchased Depreciation-Plant Building & Equipment Insurance on plant Depreciation expense on delivery truck Direct manufacturing wages 000 %24121,230 $32,500 $11,500 $18,250 $144,000 $575,000 $28,000 $23,700 Sales revenue Plant Utilities Sales commissions Total manufacturing costs to account for is: O a. $369,000 O b. $354,000 O c. $259,000 Od. $394,000 tv
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The following information is available for Robstown Corporation for 20Y8: Inventories January 1 December 31 Materials $78,750 $94,450 Work in process 108,600 96,800 Finished goods 113,750 109,100 December 31 Advertising expense $ 69,000 Depreciation expense-office equipment 22,750 Depreciation expense-factory equipment 14,860 Direct labor 184,350 Heat, light, and power-factory 5,950 Indirect labor 24,600 Materials purchased 122,200 Office salaries expense 77,750 Property taxes-factory 4,170 Property taxes-office building 13,200 Rent expense-factory 6,675 Sales 862,000 Sales salaries expense 138,500 Supplies-factory 5,000 Miscellaneous costs-factory 5,280 Required: a. Prepare the 20Y8 statement of cost of goods manufactured. For those boxes in which you must enter subtracted or negative numbers use a minus sign.* b. Prepare the 20Y8 income statement. *Refer to the Amount Descriptions list…
Answer question 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…
Cepeda Corporation has the following cost records for June 2018: + Indirect factory labor $4,500 Factory utilities $400 Direct materials used 20,000 Depreciation, factory equipment 1,400 Work in process, 6/1/18 3,000 Direct labor 40,000 Work in process, 6/30/18 3,800 Maintenance, factory equipment 1,800 Finished goods, 6/1/18 5,000 Indirect materials 2,200 Finished goods, 6/30/18 7,500 Factory manager's salary 3,000 Instructions a. Prepare a cost of goods manufactured schedule for June 2018. b. Prepare an income statement through gross profit for June 2018 assuming sales revenue is $92,100.
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?
Selected data from Design Corporation for 206 is as follows: Inventories Beginning $34,000 135,000 110,000 Ending $40,000 150,000 102,000 Raw Materials Work in process Finished goods Other information: Plant janitorial services Administrative expenses Raw materials purchased Depreciation – Plant Building & Equipment Insurance on plant Depreciation expense on delivery truck Direct manufacturing wages Sales revenue Plant Utilities Sales commissions $8,000 $121,230 $41,000 $32,500 $11,500 $18,250 $144,000 $575,000 $28,000 $23,700 Conversion Cost is: a. $179,000 O b. $354,000 O c. $224,000 O d. $259,000
DJV Corporation incurred the following costs while manufacturing its product. Materials used in product $ 120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 19,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 23,000 Salaries paid to sales clerks 50,000 Work-in-process inventory was $22,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January 1 and $50,600 at December 31. Instructions Compute cost of goods manufactured. Compute cost of goods sold.
Selected data from Design Corporation for 2016 is as follows: beginning ending raw materials 34,000 40,000 work in progress 135,000 150,000 finished goods 110,000 102,000 other information: plant janitorial services 8,000 admin. expenses 121,230 raw materials purchased 41,000 depreciation-plant equipment 32,500 insurance on plant 11,500 deprecation expense on truck 18,250 direct manufacturing wages 144,000 sales revenue 575,000 plant utilities 28,000 sales commission 23,700 What is the cost of goods sold?
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 $ 40,000 $43,000 Other information: Depreciation: Plant Building & Equipment $15,000 Repairs & maint- plant $5,000 Materials purchases $155,000 Indirect Labour $30,000 Insurance on plant $20,000 Direct Labour $120,000 Sales salaries expense $48,000 Admin Expense $52,000…

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