Complete question :
Your company has sales of $101,500 this year and cost of goods sold of $66,300. You forecast sales to increase to $118,900 next year. Using the percent of sales method, forecast next year's cost of goods sold. The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career The forecasted cost of goods sold (COGS) is $ ___________ (Round to the nearest dollar.)
Answer:
$77,666
Explanation:
Given the following :
Sales for the year = $101,500
Cost of goods sold =$66,300
Forecasted increase in sales for next year = $118,900
Forecasted cost of goods sold for next year =?
Percentage cost of goods sold for this year:
Cost of goods sold / sales for this year
$66300/$101500
= 0.6532019
Forecasted cost of goods sold for next year:
(Forecasted increase in next year's sale * % cost of goods sold for this year)
= 118,900 * 0.6532019
= $77665.714
= $77666 ( nearest dollar)
The common key concepts that are common to the quality
improvement approach are the following;
-
Usage of QI tools, this is used for mapping,
analyzing and collecting data.
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Outcomes and measuring are also used.
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Lastly, application of statistical process
control
Answer:
$4000 is the correct answer to the given question .
Explanation:
The marginal cost with compare to the labor can be written as
Here K=9 units putting this value in the previous equation we get
We can find the value of labor by the given formula that are given below
From the given question that are mention in question
Q = 2(K)1/2(L)1/2
Putting the value of K and L in the given equation we get
So profit maximizing output is =$60 chairs as the chairs can be sold for the $400 each so = $60 * $400 *10=$24000 chairs
As the competitive wage of $120 for 100 units as well as the total of $8,000 on the 9 units of capital equipment
=$20000
Therefore profit-maximizing level of output =$24000-$20000=$4000
Answer: Please see answer in explanation column
Explanation:
Using the cost method, treasury stock is credited for cost of the shares when it is reissued, while Cash is debited for amount received. Also, additional paid-in capital from treasury stock will be credited to show the difference.
journal entry to record the issuance of 3000 shares in year 9
Date Account Debit Credit
Year 9 Cash (3,000x $50) $150,000
Treasury stock (3,000x$36) $108,000
Additional paid-in capital- treasury stock $42,000
( $150,000 - 108,000)
