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521amosPART #3a
Review Decision Case 1 (Donna Tse) located on page 1127 in you textbook. Answer the case question in the Requirements section of the case. Your memo should be at least two paragraphs in length.
Case 1. Donna Tse has recently accepted the position of assistant manager at Cycle World, a bicycle store in St. Louis. She has just finished her accounting course. Cycle world's manager and owner, Jeff Towry, asks Tse to prepare a budget income statement for 2011 based on the information he has collected. Tse’s budget follows:
Cycle World Budgeted Income Statement For the year Ending July 31, 2011 | ||
Sales revenue | $244,000 | |
Cost of goods sold | 177,000 | |
Operating expense: | ||
Salary and commission expense | $46,000 | |
Rent expense | 8,000 | |
Depreciation expense | 2,000 | |
Insurance expense | 800 | |
Misc. expense | 12,000 | 68,800 |
Operating loss | (1,800) | |
Interest expense | (225) | |
Net loss | $ (2,025) | |
Requirement
Tse does not want to give Towry this budget without making constructive suggestions for steps Towry could take to improve expected performance. Write a memo to Towry outlining your suggestions.
PART #3b
At the end of each module, you will apply the module’s concepts by completing comprehensive assignments from the textbook.
Complete problems P21-20A (p. 1121), P21-21A (p. 1122), and P21-22A (p.1123) in your textbook.
Present your analysis of the assigned problems in Excel format. Enter non-numerical responses in the same worksheet using textboxes.
P21-20A: Doggy World operates a chain of pet stores in the midwest. The manager of each store reports to the regional manager, who, in turn, reports to the headquarters in Milwaukee, Wisconsin. The actual income statements for the Dayton store, the Ohio region (including the Dayton store), and the company as a whole (including the Ohio region) for July 2011 are as follows:
Doggy World Income Statement | For the month Ended July 31, 2011 | ||
Dayton | Ohio | Companywide | |
revenue | $158,400 | $1,760,000 | $4,400,000 |
expenses | |||
Regional manager/headquarters office | $ 0 | $ 58,000 | $ 122,000 |
Cost of materials | 85,536 | 880,000 | 1,760,000 |
Salary expense | 41,184 | 440,000 | 1,100,000 |
Depreciation expense | 7,800 | 91,000 | 439,000 |
Utilities expense | 4,000 | 46,600 | 264,000 |
Rent expenses | 2,500 | 34,500 | 178,000 |
Total expenses | 141,020 | 1,550,100 | 3,863,000 |
Operating income | $ 17,380 | $209,900 | $537,000 |
Doggy World Income Statement | For the month Ended July 31, 2011 | ||
Dayton | Ohio | Companywide | |
revenue | $173,400 | $1,883,000 | $4,650,000 |
expenses | |||
Regional manager/headquarters office | $ 0 | $ 64,600 | $ 124,000 |
Cost of materials | 91,902 | 1,035,650 | 2,092,500 |
Salary expense | 41,616 | 470,750 | 1,162,500 |
Depreciation expense | 7,800 | 87,500 | 446,000 |
Utilities expense | 4,900 | 54,600 | 274,000 |
Rent expenses | 3,400 | 32,700 | 169,000 |
Total expenses | 149,618 | 1,745,800 | 4,268,000 |
Operating income | $ 23,782 | $137,200 | $382,000 |
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