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?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 4PB: During the current year, Arkells Inc. made the following expenditures relating to plant machinery. ...

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During the current year, Arkells Inc. made the following expenditures relating to plant machinery. Renovated seven machines for $250,000 to improve efficiency in production of their remaining useful life of eight years Low-cost repairs throughout the year totaled $79,000 Replaced a broken gear on a machine for $6,000 A. What amount should be expensed during the period? B. What amount should be capitalized during the period?
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…
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 progress 100,000 65,000 Finished goods 40,000 43,000 Other information: Depreciation: Plant Building & Equipment $15,000 Materials purchases $155,000 Insurance on plant $20,000 Sales salaries expense $48,000 Repairs & maintenance- plant $5,000 Indirect labour $30,000 Direct labour $120,000 Administrative expenses $52,000 Sales revenue $550,700 1. Prepare a schedule of cost 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 3,000 lamps for the year?
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