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?
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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
- 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 |
|
& 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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