General, and Administrative Expense Budget Total General & Admin. Expenses Total Selling, General & Administrative Expenses FactSheet - Data on 2024 Financial Year Jan-2024 Feb-2024 Mar-2024 Apr-2024 May-2024 Jun-2024 Jul-2024 Aug-2024 Sep-2024 Oct-2024 Nov-2024 Dec-2024 Sales Volume - Pedal Classic 214 225 200 213 203 254 247 222 132 162 177 190 Sales Volume - Folding Urban Dream 305 320 326 310 321 433 427 341 307 301 418 125 Service Volume - No. of Hours (Repairs) 277 291 296 282 292 394 388 310 279 274 380 386 Selling Price - Pedal Classic $ 500.00 Cost Price - Pedal Classic 300.00 Selling Price - Folding Urban Dream $ 800.00 Cost Price - Folding Urban Dream 650.00 Service Revenue Per Hour (Repairs) $ 80.00 Number of Sale Assistants: 3 Wage Rate Per Employee Per Month $ 6,000 Number of Office Staff: 2 Wage Rate Per Employee Per Month 3,500 Number of Repair Technicians 4 Wage Rate Per Employee Per Month $ 5,500Additional Information: Both Tracie and Conor are owners within the business and each of them draws an amount of $1967 per month. Each owner plans on increasing the drawings to $5901 per month starting from January of 2025. As the manager, Tracie keeps a close eye on inventory management and would like to always maintain a monthly ending inventory requirement of 20% of next month's sales. You can assume the beginning inventory for January 2025 to be 0 units for both Pedal Classic and Folding Urban Dream ebikes. All purchases of inventory with the current supplier are on a credit basis, with 60% of the amount settled in the same month of purchase and the remaining 40% settled one month after the month of purchase. You can assume that all credit amounts for purchase of inventory prior to January 2025 have been settled. The business typically will have 70% of their sales of Pedal Classic and Folding Urban Dream ebikes as cash, with the remaining 30% on credit. Of the credit sales, 50% is collected in the month of sales, 30% is collected one month after the sales, and 20% is collected two months after the sales. You can assume that all credit amounts for sale of inventory prior to January 2025 have been settled. All customers coming in for ebikes repairs pay for the service in cash 100% of the time. The business has the following non-current assets: In 2024, the business purchased one specialised equipment to provide repairs for the ebikes. The total cost of such one equipment is $21960 and it is expected to last 5 years. Other office equipment has a total cost of $18420 and depreciates at 20% per annum. Shop fittings were originally purchased at $86400 and depreciate at 10% per annum. All non-current assets have 50 residual value and are depreciated using the straight-line method of depreciation. Other Fixed Costs: Marketing expense of $1944 per annum is paid and incurred evenly across 12 months. $6048 of business insurance is paid in advance every year on 1st January. This insurance covers the period 1st Jan to 31st Dec every year (50% store; 50% office). Bank fees work out to be $90 per month and are paid at the end of each quarter. On average, the office supplies are purchased, paid and expensed every month to the amount of $130. Council rates are $1044 per year and are usually paid in December each year. The rates cover the period 1st Jan to 31st Dec every year. (60% store; 40% office) Rent is paid at the start of each quarter and works out to be $8030 per month. (80% store; 20% office) Water, gas and electricity are combined under utility expense which adds up to $615 per quarter and is usually paid at the end of each quarter. (70% store; 30% office) *Note: Quarter 1 runs from 1 Jan- 31 Mar; Quarter 2 runs from 1 Apr - 30 Jun; Quarter 3 runs from 1 Jul - 30 Sep; Quarter 4 runs from 1 Oct - 31 Dec