3. 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 Prepare an income statement for Synder Corp. for the year ended December 31, ii) 2008 iii) What is the unit product cost if Synder manufactured 3,000 lamps for the year? - 3 -

3. 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 Prepare an income statement for Synder Corp. for the year ended December 31, ii) 2008 iii) What is the unit product cost if Synder manufactured 3,000 lamps for the year? - 3 -

Name: 3. Synder Corp., a lamp manufacturer, provide the following informati
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Description: 3. Synder Corp., a lamp manufacturer, provide the following information for the yearended December 2008:InventoriesMaterialsBeginning$50,000 $25,000100,00040,000EndingWork in processFinished goods65,00043,000Other information:Depreciation: Plant Bui

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 7RE

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