Question
Suppose that 2013 business sales is $1,650,000 and COGS is 530,000. In 2014, the business owner expects that sales will increase by 13% and COGS
Suppose that 2013 business sales is $1,650,000 and COGS is 530,000. In 2014, the business owner expects that sales will increase by 13% and COGS will be proportional to sales at the same rate as in 2013. Accounts Payable in 2013 is $16,500. In 2014, no change in AP days is expected.
1a) Find the value of COGS in 2014.
1b) Find the $ value of Accounts Payable in 2014.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Management Accounting For Beginners
Authors: Nicholas Apostolides
1st Edition
0815351224, 978-0815351221
