{"id":1072,"date":"2021-04-14T00:25:57","date_gmt":"2021-04-14T00:25:57","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/?post_type=chapter&#038;p=1072"},"modified":"2021-08-05T00:10:34","modified_gmt":"2021-08-05T00:10:34","slug":"cost-of-goods-sold-budget","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/chapter\/cost-of-goods-sold-budget\/","title":{"raw":"Cost of Goods Sold Budget","rendered":"Cost of Goods Sold Budget"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Outcomes<\/h3>\r\n<ul>\r\n \t<li>Prepare a cost of goods sold budget<\/li>\r\n<\/ul>\r\n<\/div>\r\n<img class=\"aligncenter wp-image-1441\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5469\/2021\/04\/07221352\/Screen-Shot-2021-05-07-at-3.13.35-PM-300x261.png\" alt=\"A flowchart titled \u201cTypes of Budgets\u201d. The cost of goods sold 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=\"434\" \/>\r\n\r\nThe cost of goods sold budget establishes the forecast for the inventory expense and is usually one of the largest expenses on an income statement. A cost of goods sold budget would not be necessary for a service company since they do not sell a product. Management must now prepare a schedule to forecast the cost of goods sold, the next major amount in the planned operating budget. We need to understand the costs for making the product. GelSoft has the following costs:\r\n<div align=\"left\">\r\n<table class=\"fin-table acctstatement\">\r\n<tbody>\r\n<tr>\r\n<td>Direct Materials<\/td>\r\n<td>$\u00a0 7.48 per unit (0.68 kg * $11)<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Direct Labor<\/td>\r\n<td>$\u00a0 10.00 per unit (0.25 hrs * $40)<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Variable Overhead<\/td>\r\n<td>$\u00a0 1.20 per unit<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Fixed Overhead<\/td>\r\n<td>$\u00a0 3.80 per unit ($602,694\/39,651 hours * 0.25 hours\/unit)<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n&nbsp;\r\n\r\nThe variable and fixed overhead allocations can be combined to one $5.00 rate that is 0.25 * the $20 combined allocation per hour because each unit takes \u00bc hour of labor.\r\n\r\nThe total combined cost per unit would then be $7.48 +$10.00 + $5.00 = $22.48 cost per unit.\r\n\r\nAs with all of the other components of the operating budget so far, the cost of goods sold budget is driven by the sales budget in units. Let\u2019s assume the company is using a First-In, First-Out (FIFO) assumption for finished goods inventory and that the unit cost of beginning inventory is $20, so the 30,000 units in beginning inventory carry a cost basis of $600,000.\r\n\r\nAll of the units produced in the current year carry a cost basis of $22.48 per unit.\r\n<div align=\"left\">\r\n<table class=\"fin-table acctstatement fw\"><caption>GelSoft Cost of Goods Sold Budget - FIFO<\/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>Sales in Units<\/td>\r\n<td class=\"r\">40,000<\/td>\r\n<td class=\"r\">42,000<\/td>\r\n<td class=\"r\">44,100<\/td>\r\n<td class=\"r\">46,305<\/td>\r\n<td class=\"r\">172,405<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Less: Beginning inventory sold<\/td>\r\n<td class=\"r\">30,000<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">30,000<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Current product sold<\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>10,000<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>42,000<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>44,100<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>46,305<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>142,405<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Cost of beginning inventory sold @$20<\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0600,000<\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 -<\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0-<\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 -<\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0600,000<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Cost of current product sold @$22.48<\/td>\r\n<td class=\"r\">224,800<\/td>\r\n<td class=\"r\">944,160<\/td>\r\n<td class=\"r\">991,368<\/td>\r\n<td class=\"r\">1,040,936<\/td>\r\n<td class=\"r\">3,201,264<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$ \u00a0\u00a0824,800<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>$\u00a0\u00a0 944,160<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$\u00a0\u00a0 991,368<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>$\u00a01,040,936<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$\u00a03,801,264<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\nFor a bit more information on how cost of goods sold is calculated, watch this video:\r\n\r\n<iframe src=\"\/\/plugin.3playmedia.com\/show?mf=6352581&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=bv8N9LDVWV4&amp;video_target=tpm-plugin-f5tnt992-bv8N9LDVWV4\" width=\"800px\" height=\"450px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe>\r\n\r\nYou can view the <a href=\"https:\/\/oerfiles.s3.us-west-2.amazonaws.com\/Managerial+Accounting\/Transcripts\/CostOfGoodsSold_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \"Cost of Goods Sold (COGS)\" here (opens in new window)<\/a>.\r\n\r\nAfter managers forecast cost of goods sold, they prepare a separate budget for all selling and administrative expenses. First, check your understanding of calculating cost of goods sold based on the sales and production schedules.\r\n<div class=\"textbox tryit\">\r\n<h3>Practice Question<\/h3>\r\n[ohm_question hide_question_numbers=1]220599[\/ohm_question]\r\n\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Outcomes<\/h3>\n<ul>\n<li>Prepare a cost of goods sold budget<\/li>\n<\/ul>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1441\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5469\/2021\/04\/07221352\/Screen-Shot-2021-05-07-at-3.13.35-PM-300x261.png\" alt=\"A flowchart titled \u201cTypes of Budgets\u201d. The cost of goods sold 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=\"434\" \/><\/p>\n<p>The cost of goods sold budget establishes the forecast for the inventory expense and is usually one of the largest expenses on an income statement. A cost of goods sold budget would not be necessary for a service company since they do not sell a product. Management must now prepare a schedule to forecast the cost of goods sold, the next major amount in the planned operating budget. We need to understand the costs for making the product. GelSoft has the following costs:<\/p>\n<div style=\"text-align: left;\">\n<table class=\"fin-table acctstatement\">\n<tbody>\n<tr>\n<td>Direct Materials<\/td>\n<td>$\u00a0 7.48 per unit (0.68 kg * $11)<\/td>\n<\/tr>\n<tr>\n<td>Direct Labor<\/td>\n<td>$\u00a0 10.00 per unit (0.25 hrs * $40)<\/td>\n<\/tr>\n<tr>\n<td>Variable Overhead<\/td>\n<td>$\u00a0 1.20 per unit<\/td>\n<\/tr>\n<tr>\n<td>Fixed Overhead<\/td>\n<td>$\u00a0 3.80 per unit ($602,694\/39,651 hours * 0.25 hours\/unit)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p>The variable and fixed overhead allocations can be combined to one $5.00 rate that is 0.25 * the $20 combined allocation per hour because each unit takes \u00bc hour of labor.<\/p>\n<p>The total combined cost per unit would then be $7.48 +$10.00 + $5.00 = $22.48 cost per unit.<\/p>\n<p>As with all of the other components of the operating budget so far, the cost of goods sold budget is driven by the sales budget in units. Let\u2019s assume the company is using a First-In, First-Out (FIFO) assumption for finished goods inventory and that the unit cost of beginning inventory is $20, so the 30,000 units in beginning inventory carry a cost basis of $600,000.<\/p>\n<p>All of the units produced in the current year carry a cost basis of $22.48 per unit.<\/p>\n<div style=\"text-align: left;\">\n<table class=\"fin-table acctstatement fw\">\n<caption>GelSoft Cost of Goods Sold Budget &#8211; FIFO<\/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>Sales in Units<\/td>\n<td class=\"r\">40,000<\/td>\n<td class=\"r\">42,000<\/td>\n<td class=\"r\">44,100<\/td>\n<td class=\"r\">46,305<\/td>\n<td class=\"r\">172,405<\/td>\n<\/tr>\n<tr>\n<td>Less: Beginning inventory sold<\/td>\n<td class=\"r\">30,000<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">30,000<\/td>\n<\/tr>\n<tr>\n<td>Current product sold<\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>10,000<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>42,000<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>44,100<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>46,305<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>142,405<span class=\"u-sr-only\">Double line<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Cost of beginning inventory sold @$20<\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0600,000<\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 &#8211;<\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0&#8211;<\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 &#8211;<\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0600,000<\/td>\n<\/tr>\n<tr>\n<td>Cost of current product sold @$22.48<\/td>\n<td class=\"r\">224,800<\/td>\n<td class=\"r\">944,160<\/td>\n<td class=\"r\">991,368<\/td>\n<td class=\"r\">1,040,936<\/td>\n<td class=\"r\">3,201,264<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$ \u00a0\u00a0824,800<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>$\u00a0\u00a0 944,160<span class=\"u-sr-only\">Double line<\/span><\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$\u00a0\u00a0 991,368<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>$\u00a01,040,936<span class=\"u-sr-only\">Double line<\/span><\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$\u00a03,801,264<span class=\"u-sr-only\">Double line<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<p>For a bit more information on how cost of goods sold is calculated, watch this video:<\/p>\n<p><iframe loading=\"lazy\" src=\"\/\/plugin.3playmedia.com\/show?mf=6352581&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=bv8N9LDVWV4&amp;video_target=tpm-plugin-f5tnt992-bv8N9LDVWV4\" width=\"800px\" height=\"450px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe><\/p>\n<p>You can view the <a href=\"https:\/\/oerfiles.s3.us-west-2.amazonaws.com\/Managerial+Accounting\/Transcripts\/CostOfGoodsSold_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for &#8220;Cost of Goods Sold (COGS)&#8221; here (opens in new window)<\/a>.<\/p>\n<p>After managers forecast cost of goods sold, they prepare a separate budget for all selling and administrative expenses. First, check your understanding of calculating cost of goods sold based on the sales and production schedules.<\/p>\n<div class=\"textbox tryit\">\n<h3>Practice Question<\/h3>\n<p><iframe loading=\"lazy\" id=\"ohm220599\" class=\"resizable\" src=\"https:\/\/ohm.lumenlearning.com\/multiembedq.php?id=220599&theme=oea&iframe_resize_id=ohm220599\" 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-1072\">\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>Operating 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>Cost of Goods Sold (COGS). <strong>Authored by<\/strong>: Corporate Finance Institute. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/youtu.be\/bv8N9LDVWV4\">https:\/\/youtu.be\/bv8N9LDVWV4<\/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":12,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Operating 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. Hermanson, Georgia State University\",\"organization\":\"Endeavour International Corporation\",\"url\":\"\",\"project\":\"The Global Text Project\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"copyrighted_video\",\"description\":\"Cost of Goods Sold (COGS)\",\"author\":\"Corporate Finance Institute\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/bv8N9LDVWV4\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"}]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-1072","chapter","type-chapter","status-publish","hentry"],"part":33,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters\/1072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/users\/364389"}],"version-history":[{"count":11,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters\/1072\/revisions"}],"predecessor-version":[{"id":2194,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters\/1072\/revisions\/2194"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/parts\/33"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters\/1072\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/media?parent=1072"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapter-type?post=1072"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/contributor?post=1072"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/license?post=1072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}