{"id":1070,"date":"2021-04-14T00:22:29","date_gmt":"2021-04-14T00:22:29","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/?post_type=chapter&#038;p=1070"},"modified":"2021-08-05T00:08:53","modified_gmt":"2021-08-05T00:08:53","slug":"manufacturing-overhead-budget","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/chapter\/manufacturing-overhead-budget\/","title":{"raw":"Manufacturing Overhead Budget","rendered":"Manufacturing Overhead Budget"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Outcomes<\/h3>\r\n<ul>\r\n \t<li>Prepare a manufacturing overhead budget<\/li>\r\n<\/ul>\r\n<\/div>\r\n<img class=\"aligncenter wp-image-1438\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5469\/2021\/04\/07221200\/Screen-Shot-2021-05-07-at-3.11.28-PM-300x260.png\" alt=\"A flowchart titled \u201cTypes of Budgets\u201d. The manufacturing overhead budget is highlighted in yellow. At the top is the sales budget. The sales budget has two arrows pointing to the production budget and the SG&amp;A budget. The production budget has three arrows pointing to the materials budget, labor budget, and manufacturing overhead budget. Those three budgets are all pointing to the cost of goods sold budget. The sales, production, materials, labor, manufacturing overhead, cost of goods sold, and SG&amp;A budget boxes are all blue and there is a bracket labeling those as the operating budget. Below the operating budget is a horizontal line showing the capital expenditures budget in red on the left, and going to the right from there, an arrow pointing to the cash budget, with another arrow pointing to the budgeted income statement, and a final arrow pointing to the budgeted balance sheet. The cash budget, budgeted income statement, and budgeted balance sheet are all green and there is a bracket labeling those as the operating budget. There are also arrows pointing from the cost of goods sold budget and the SG&amp;A budget to the cash budget.\" width=\"500\" height=\"433\" \/>\r\nThe manufacturing overhead budget is prepared depending on how the company allocates overhead. The company can choose to allocate overhead using one predetermined overhead rate, departmental rates, or using activity-based costing.\r\n\r\nGelSoft has the following fixed, indirect cost budget for the manufacturing department. These costs do not include any selling, general, or administrative costs. It only includes manufacturing costs that can\u2019t be specifically identified to the products. For instance, the payroll taxes and benefits on direct labor are included in the direct labor allocation rate, but the payroll taxes and benefits on supervisor salaries and other support workers in the manufacturing department are included in overhead, as is depreciation on equipment, repairs, and maintenance, and other expenses of the factory.\r\n<div align=\"left\">\r\n<table class=\"fin-table acctstatement fw\"><caption>GelSoft\r\nFixed Manufacturing Overhead Budget<\/caption>\r\n<thead>\r\n<tr class=\"u-sr-only\">\r\n<th scope=\"col\">Description<\/th>\r\n<th scope=\"col\">Amount<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>Supervisor Salaries<\/td>\r\n<td class=\"r\">$150,000<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Support Staff\/Maintenance\/Janitorial<\/td>\r\n<td class=\"r\">50,000<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Payroll Taxes and Benefits<\/td>\r\n<td class=\"r\">20,000<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Depreciation on Manufacturing Equipment<\/td>\r\n<td class=\"r\">200,000<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Rent and Property Taxes<\/td>\r\n<td class=\"r\">100,000<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Repairs and Maintenance<\/td>\r\n<td class=\"r\">50,000<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Miscellaneous Expenses<\/td>\r\n<td class=\"r\">32,694<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Total Indirect Manufacturing Expenses<\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$602,694<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n&nbsp;\r\n\r\nIn addition, the company incurs $1.20 in variable overhead for each unit produced:\r\n<div align=\"left\">\r\n<table class=\"fin-table acctstatement fw\"><caption>GelSoft\r\nManufacturing Overhead Budget<\/caption>\r\n<thead>\r\n<tr class=\"u-sr-only\">\r\n<th scope=\"col\">Description<\/th>\r\n<th scope=\"col\">Amount<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>Budgeted units to be produced<\/td>\r\n<td class=\"r\">158,605<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Variable overhead cost per unit<\/td>\r\n<td class=\"r\">$1.20<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Budgeted variable overhead<\/td>\r\n<td class=\"r line-single\"><span class=\"u-sr-only\">Single Line<\/span>$190,326<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Budgeted fixed overhead<\/td>\r\n<td class=\"r\">$602,694<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Budgeted manufacturing overhead costs<\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$793,020<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n&nbsp;\r\n\r\nGelSoft is going to use a single, company-wide allocation rate based on direct labor hours from the direct labor budget:\r\n<div align=\"left\">\r\n<table class=\"fin-table acctstatement fw\"><caption>GelSoft\r\nDirect Labor Budget<\/caption>\r\n<thead>\r\n<tr class=\"u-sr-only\">\r\n<th scope=\"col\">Description<\/th>\r\n<th scope=\"col\">Amount<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>Budgeted units to be produced<\/td>\r\n<td class=\"r\">158,605<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Direct Labor per unit in hours<\/td>\r\n<td class=\"r\">0.250<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Total direct labor hours needed<\/td>\r\n<td class=\"r line-single\"><span class=\"u-sr-only\">Single Line<\/span>39,651<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Projected labor cost per hour<\/td>\r\n<td class=\"r\">$40<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Budgeted cost of direct labor<\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$1,586,040<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n&nbsp;\r\n<p style=\"padding-left: 30px;\">Total manufacturing overhead = $793,020<\/p>\r\n<p style=\"padding-left: 30px;\">Total direct labor hours = 39,651<\/p>\r\n<p style=\"padding-left: 30px;\">Predetermined MOH allocation rate = $793,020 \/ 39,651 = $20.00<\/p>\r\nThis could also be expressed as a quarterly budget:\r\n<div align=\"left\">\r\n<table class=\"fin-table acctstatement fw\"><caption>GelSoft\r\nManufacturing Overhead Budget<\/caption>\r\n<tbody>\r\n<tr>\r\n<th class=\"r\" scope=\"col\"><span class=\"u-sr-only\">Description<\/span><\/th>\r\n<th class=\"r\" scope=\"col\">Q1<\/th>\r\n<th class=\"r\" scope=\"col\">Q2<\/th>\r\n<th class=\"r\" scope=\"col\">Q3<\/th>\r\n<th class=\"r\" scope=\"col\">Q4<\/th>\r\n<th class=\"r\" scope=\"col\">Year<\/th>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td>Budgeted direct labor hours<\/td>\r\n<td class=\"r\">9,250<\/td>\r\n<td class=\"r\">9,750<\/td>\r\n<td class=\"r\">10,275<\/td>\r\n<td class=\"r\">10,376<\/td>\r\n<td class=\"r\">39,651<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Variable overhead cost per unit<\/td>\r\n<td class=\"r\">$20.00<\/td>\r\n<td class=\"r\">$20.00<\/td>\r\n<td class=\"r\">$20.00<\/td>\r\n<td class=\"r\">$20.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Budgeted manufacturing overhead costs<\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$185,000<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$195,000<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$205,500<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$207,520<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$793,020<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n&nbsp;\r\n\r\nBefore we move on to calculate cost of goods sold based on our work so far, check your understanding of the manufacturing overhead budget.\r\n<div class=\"textbox tryit\">\r\n<h3>Practice Question<\/h3>\r\n[ohm_question hide_question_numbers=1]220597[\/ohm_question]\r\n\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Outcomes<\/h3>\n<ul>\n<li>Prepare a manufacturing overhead budget<\/li>\n<\/ul>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1438\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5469\/2021\/04\/07221200\/Screen-Shot-2021-05-07-at-3.11.28-PM-300x260.png\" alt=\"A flowchart titled \u201cTypes of Budgets\u201d. The manufacturing overhead budget is highlighted in yellow. At the top is the sales budget. The sales budget has two arrows pointing to the production budget and the SG&amp;A budget. The production budget has three arrows pointing to the materials budget, labor budget, and manufacturing overhead budget. Those three budgets are all pointing to the cost of goods sold budget. The sales, production, materials, labor, manufacturing overhead, cost of goods sold, and SG&amp;A budget boxes are all blue and there is a bracket labeling those as the operating budget. Below the operating budget is a horizontal line showing the capital expenditures budget in red on the left, and going to the right from there, an arrow pointing to the cash budget, with another arrow pointing to the budgeted income statement, and a final arrow pointing to the budgeted balance sheet. The cash budget, budgeted income statement, and budgeted balance sheet are all green and there is a bracket labeling those as the operating budget. There are also arrows pointing from the cost of goods sold budget and the SG&amp;A budget to the cash budget.\" width=\"500\" height=\"433\" \/><br \/>\nThe manufacturing overhead budget is prepared depending on how the company allocates overhead. The company can choose to allocate overhead using one predetermined overhead rate, departmental rates, or using activity-based costing.<\/p>\n<p>GelSoft has the following fixed, indirect cost budget for the manufacturing department. These costs do not include any selling, general, or administrative costs. It only includes manufacturing costs that can\u2019t be specifically identified to the products. For instance, the payroll taxes and benefits on direct labor are included in the direct labor allocation rate, but the payroll taxes and benefits on supervisor salaries and other support workers in the manufacturing department are included in overhead, as is depreciation on equipment, repairs, and maintenance, and other expenses of the factory.<\/p>\n<div style=\"text-align: left;\">\n<table class=\"fin-table acctstatement fw\">\n<caption>GelSoft<br \/>\nFixed Manufacturing Overhead Budget<\/caption>\n<thead>\n<tr class=\"u-sr-only\">\n<th scope=\"col\">Description<\/th>\n<th scope=\"col\">Amount<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Supervisor Salaries<\/td>\n<td class=\"r\">$150,000<\/td>\n<\/tr>\n<tr>\n<td>Support Staff\/Maintenance\/Janitorial<\/td>\n<td class=\"r\">50,000<\/td>\n<\/tr>\n<tr>\n<td>Payroll Taxes and Benefits<\/td>\n<td class=\"r\">20,000<\/td>\n<\/tr>\n<tr>\n<td>Depreciation on Manufacturing Equipment<\/td>\n<td class=\"r\">200,000<\/td>\n<\/tr>\n<tr>\n<td>Rent and Property Taxes<\/td>\n<td class=\"r\">100,000<\/td>\n<\/tr>\n<tr>\n<td>Repairs and Maintenance<\/td>\n<td class=\"r\">50,000<\/td>\n<\/tr>\n<tr>\n<td>Miscellaneous Expenses<\/td>\n<td class=\"r\">32,694<\/td>\n<\/tr>\n<tr>\n<td>Total Indirect Manufacturing Expenses<\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$602,694<span class=\"u-sr-only\">Double line<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p>In addition, the company incurs $1.20 in variable overhead for each unit produced:<\/p>\n<div style=\"text-align: left;\">\n<table class=\"fin-table acctstatement fw\">\n<caption>GelSoft<br \/>\nManufacturing Overhead Budget<\/caption>\n<thead>\n<tr class=\"u-sr-only\">\n<th scope=\"col\">Description<\/th>\n<th scope=\"col\">Amount<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Budgeted units to be produced<\/td>\n<td class=\"r\">158,605<\/td>\n<\/tr>\n<tr>\n<td>Variable overhead cost per unit<\/td>\n<td class=\"r\">$1.20<\/td>\n<\/tr>\n<tr>\n<td>Budgeted variable overhead<\/td>\n<td class=\"r line-single\"><span class=\"u-sr-only\">Single Line<\/span>$190,326<\/td>\n<\/tr>\n<tr>\n<td>Budgeted fixed overhead<\/td>\n<td class=\"r\">$602,694<\/td>\n<\/tr>\n<tr>\n<td>Budgeted manufacturing overhead costs<\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$793,020<span class=\"u-sr-only\">Double line<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p>GelSoft is going to use a single, company-wide allocation rate based on direct labor hours from the direct labor budget:<\/p>\n<div style=\"text-align: left;\">\n<table class=\"fin-table acctstatement fw\">\n<caption>GelSoft<br \/>\nDirect Labor Budget<\/caption>\n<thead>\n<tr class=\"u-sr-only\">\n<th scope=\"col\">Description<\/th>\n<th scope=\"col\">Amount<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Budgeted units to be produced<\/td>\n<td class=\"r\">158,605<\/td>\n<\/tr>\n<tr>\n<td>Direct Labor per unit in hours<\/td>\n<td class=\"r\">0.250<\/td>\n<\/tr>\n<tr>\n<td>Total direct labor hours needed<\/td>\n<td class=\"r line-single\"><span class=\"u-sr-only\">Single Line<\/span>39,651<\/td>\n<\/tr>\n<tr>\n<td>Projected labor cost per hour<\/td>\n<td class=\"r\">$40<\/td>\n<\/tr>\n<tr>\n<td>Budgeted cost of direct labor<\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$1,586,040<span class=\"u-sr-only\">Double line<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p style=\"padding-left: 30px;\">Total manufacturing overhead = $793,020<\/p>\n<p style=\"padding-left: 30px;\">Total direct labor hours = 39,651<\/p>\n<p style=\"padding-left: 30px;\">Predetermined MOH allocation rate = $793,020 \/ 39,651 = $20.00<\/p>\n<p>This could also be expressed as a quarterly budget:<\/p>\n<div style=\"text-align: left;\">\n<table class=\"fin-table acctstatement fw\">\n<caption>GelSoft<br \/>\nManufacturing Overhead Budget<\/caption>\n<tbody>\n<tr>\n<th class=\"r\" scope=\"col\"><span class=\"u-sr-only\">Description<\/span><\/th>\n<th class=\"r\" scope=\"col\">Q1<\/th>\n<th class=\"r\" scope=\"col\">Q2<\/th>\n<th class=\"r\" scope=\"col\">Q3<\/th>\n<th class=\"r\" scope=\"col\">Q4<\/th>\n<th class=\"r\" scope=\"col\">Year<\/th>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td>Budgeted direct labor hours<\/td>\n<td class=\"r\">9,250<\/td>\n<td class=\"r\">9,750<\/td>\n<td class=\"r\">10,275<\/td>\n<td class=\"r\">10,376<\/td>\n<td class=\"r\">39,651<\/td>\n<\/tr>\n<tr>\n<td>Variable overhead cost per unit<\/td>\n<td class=\"r\">$20.00<\/td>\n<td class=\"r\">$20.00<\/td>\n<td class=\"r\">$20.00<\/td>\n<td class=\"r\">$20.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Budgeted manufacturing overhead costs<\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$185,000<span class=\"u-sr-only\">Double line<\/span><\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$195,000<span class=\"u-sr-only\">Double line<\/span><\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$205,500<span class=\"u-sr-only\">Double line<\/span><\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$207,520<span class=\"u-sr-only\">Double line<\/span><\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$793,020<span class=\"u-sr-only\">Double line<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p>Before we move on to calculate cost of goods sold based on our work so far, check your understanding of the manufacturing overhead budget.<\/p>\n<div class=\"textbox tryit\">\n<h3>Practice Question<\/h3>\n<p><iframe loading=\"lazy\" id=\"ohm220597\" class=\"resizable\" src=\"https:\/\/ohm.lumenlearning.com\/multiembedq.php?id=220597&theme=oea&iframe_resize_id=ohm220597\" width=\"100%\" height=\"150\"><\/iframe><\/p>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-1070\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Manufacturing Overhead Budget. <strong>Authored by<\/strong>: Joseph Cooke. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Accounting Principles: A Business Perspective. <strong>Authored by<\/strong>: James Don Edwards, University of Georgia &amp; Roger H. Hermanson, Georgia State University. <strong>Provided by<\/strong>: Endeavour International Corporation. <strong>Project<\/strong>: The Global Text Project. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">All rights reserved content<\/div><ul class=\"citation-list\"><li>Overhead Budget. <strong>Authored by<\/strong>: Kristin Ingram. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/youtu.be\/nb9SoL8M5AU\">https:\/\/youtu.be\/nb9SoL8M5AU<\/a>. <strong>License<\/strong>: <em>All Rights Reserved<\/em>. <strong>License Terms<\/strong>: Standard YouTube License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":364389,"menu_order":11,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Manufacturing Overhead Budget\",\"author\":\"Joseph Cooke\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Accounting Principles: A Business Perspective\",\"author\":\"James Don Edwards, University of Georgia & Roger H. 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