BUDGETING, VARIANCE ANALYSIS, AND PERFORMANCE EVALUATIONS- 4
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T&P Fashions - Houston Store |
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Breakdown of Expenses (Forecast) |
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Forecast |
Fixed |
Variable |
Actual |
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Revenues |
$1,400,000 |
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|
$1,260,000 |
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Cost of Sales |
790,000 |
|
790,000 |
760,000 |
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Gross Profit |
$610,000 |
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|
$500,000 |
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Management |
182,000 |
154,700 |
27,300 |
182,000 |
|
Shop assistants |
258,000 |
154,800 |
103,200 |
262,000 |
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Rent |
23,200 |
18,560 |
4,640 |
22,000 |
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Utilities |
34,800 |
34,800 |
|
31,000 |
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Misc. expenses |
24,500 |
12,250 |
12,250 |
29,000 |
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Total expenses |
$522,500 |
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|
$526,000 |
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Net income |
$87,500 |
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$(26,000) |
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