8. In 2020, Supersales Enterprises reported the following year-end information: Sales (160,750 units) Cost of...
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8. In 2020, Supersales Enterprises reported the following year-end information: Sales (160,750 units) Cost of goods sold Gross margin Operating expenses Operating income $965,000 643,000 322,000 267,000 $55,000 As the company develops its 2021 budget, management decided to increase selling price by 12.5% and therefore, anticipated a decrease of 9% in sales volume. Assuming all other operating expenses are fixed cost and cost of goods sold is a variable cost, what is the budgeted cost of goods sold for 2021? A) $723,375 B) $585,130 Page 2 of 8 C) $700,870 D) $643,000
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