MBA-AC721 Project Part 2 Create the 2018 budget for Buy-Right Bike Store (BRBS). Add a worksheet to your Project Excel workbook for BRBC Budgeted Income Statement and create the 2018 budget using the following information.

Budgeted Sales of Bike C: Online 75,000 bikes; instore 5,000 bikes. Bike C is purchased from Built-Right Bike Company, a sister company in the Biltmore Bicycle Corporation (BMBC), for $52 and is sold for $104.

Inventory: Beginning inventory: $ 52,000

Purchases 4,108,000

Sales ?

Ending Inventory $ 52,000

Employees:

Managerial Staff: Manager: 1 FTE, $45,000 annual salary plus 20% benefits

Bookkeeper: 1 FTE, $40,000 annual salary plus 20% benefits

Purchasing & Receiving Supervisor: 1 FTE, $35,000 annual salary plus 20% benefits Other staff: Warehouse: 2.5 FTEs make $15 per hour plus 17% benefits Online sales staff: 2 FTEs, $15 per hour plus 17% benefits (no commission)

NOTE: 1 FTE = 2080 hours

Store Hours: Monday Saturday 10:00 am 6:00 pm

2 sales clerks work from 10-3 M-F

3 sales clerks work from 3-6 M-F

4 sales clerks work 10-6 on Saturdays

Sales clerks earn $15 per hour plus 17% benefits Instore sales staff share commission equal to 10% of instore sales.

Budgeted Utility cost: $13,200

Budgeted Marketing Cost: $175,000

Contributions & community service: 10% of instore revenue

Other costs (includes depreciation, insurance, etc): $1,300,000

Income tax 29% of Net Revenue