Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. your company has sales of $ 102 comma 400$102,400

Your company has sales of $ 102 comma 400$102,400 this year and cost of goods...

90.2K

Verified Solution

Question

Finance

Your company has sales of $ 102 comma 400$102,400 this year and cost of goods sold of $ 62 comma 000$62,000. You forecast sales to increase to $ 117 comma 500$117,500 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.

image

Your company has sales of $102,400 this year and cost of goods sold of $62,000. You forecast sales to increase to $117,500 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 & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Assuming that males are more violent than females; does that mean crime has a biological rather...

Psychology
Q

Carl is making a garden that is half as long as it is wide. He...

Basic Math
Q

How many ways can a student pick five questions from an exam containing nine questions?There...

Basic Math
Q

Account Trial Adjustments Balance ...

Accounting
Q

Zook Incorporated, had net income from 2011 of 4,500,000. additional information is as follows: amortization...

Accounting
Q

Collecting cash on an account previously written off increases total assets...

Accounting
Q

Just Dew it Corporation reports the following balance sheet information for 2020 and 2021. Prepare...

Accounting
Q

Bunnell Corporation is a manufacturer that uses job-order costing. On January 1 , the company's...

Accounting
Q

Surrell Inc. owns 30% of the outstanding voting common stock of Vicker Co. and has...

Accounting
Q

On 1/1/2011, ABC Company purchased a piece of equipment costing $90,000. The equipment is expected...

Accounting
Q

Dan is going to buy a 19-year bond that pays a coupon rate of 11.56%...

Finance
Q

White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat...

Accounting