Question
How to calculate sales budget, cost budget, gross profit and net profit by given details? How to calculate missing figures? Information regarding sales budget: Number
How to calculate sales budget, cost budget, gross profit and net profit by given details? How to calculate missing figures?
Information regarding sales budget:
| Number of sales by sales department: | |
| Active sportswear | 22535 |
| Footwear | 13211 |
| Accessories | 10508 |
| Licenced merchandise | 7243 |
| Sports equipment | 1535 |
| Equipment repairs | 1644 |
| Average sales spend per sale: | |
| Active sportswear | $80 |
| Footwear | $180 |
| Accessories | $90 |
| Licenced merchandise | $200 |
| Sports equipment | $70 |
| Equipment repairs | $140 |
| New service has been introduced and its estimated sales forecasting | |
| New service: Sports tourism | |
| Marketing forecasts (optimistic) | |
| Number of travel sales | 1483 |
| Average predicted sales value (per sale) | $2,000 |
| Optimistic sales revenue from service | $2,966,000 |
| Revised analytics for sports tourism | |
| Probability of achieving forecast new sports tourism forecast | |
| Probability of 25% forecast | 7% |
| Probability of 50% forecast | 24% |
| Probability of 75% forecast | 28% |
| Probability of 100% of forecast | 41% |
| what is the total likely forecast (based on new analysis) for new sports tourism service | ???? |
Information regarding cost budget:
| Cost of sales (by sales department)= Cost % * sales revenue | |
| Active sportswear | 46% |
| Footwear | 51% |
| Accessories | 33% |
| Licenced merchandise | 70% |
| Sports equipment | 73% |
| Equipment repairs | 26% |
| New sport tourism (Percentage on budgeted sales) | 45% |
| Other costs attributable AND CONTROLLABLE by Profit Centre Manager: | |
| Returned merchandise written off (due to incorrect sales advice or fitting) | |
| Active sportswear | 3% |
| Footwear | 2% |
| Accessories | 2% |
| Licenced merchandise | 0% |
| Sports equipment | 2% |
| Calculate cost of return sales | ???? |
Other controllable costs:
| Sales commission paid to staff (% of Gross profit on Item) | 10% |
| Total full time staff wage costs | $ 722410 |
| Total annual casual staff wage costs | $ 80454 |
| Other staff costs including including management salaries and admin wages and salaries | $ 232886 |
| Staff training costs (% of total wages and salaries) | 4% |
| Local advertisement and marketing (% on sales) | 5% |
| Fixed costs attributable to local business unit: |
| Cleaning and general maintenance | $ 22589 |
| Utilities (Electricity/ Gas) | $ 35176 |
| Sundry business costs | $16773 |
| Other fixed costs controlled by others: | |
| Liability Insurance | $180576 |
| Rental Costs | $451441 |
| Security Services | $90288 |
| It support and systems | $270865 |
| Fixed costs allocated to business unit by 'Head office': | |
| National marketing and advertising budget costs (% on sales) | 4% |
| Head office administration charge (% on sales) | 4% |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
9781285586618
