deepansugoswami63

T&P Fashion Shops

T&P Fashion Shops is a new chain that operates 10 stores inmajor malls throughout the United States. Each store manager isresponsible for preparing a flexible budget for the store. T&Pheadquarters accumulates and analyzes the information for eachstore and in the aggregate.

Below follows some cost estimates for the Houston store.

Additional information

The sales forecast for the year is $1,400,000.

Variable expenses are based on revenues. Do note that percentageclause for rent only kicks in above $500,000 in sales.

Other expenses are all specific to this store. Headquarters payfor marketing and corporate overhead expenses.

T&P wants to see a flexible budget based on the salesforecast, including estimates for sales being 10% below budget and10% above budget.

Actual results

Required:

Computations (use Excel)

Prepare a flexible budget in good format.

Compute the flexible variances and indicate whether favorable orunfavorable.

Headquarters are contemplating charging each store a 5%marketing expense based on sales. How will that affect theoperating profit of the store and the money available formanagerial bonuses based on actual results for the past year?Summarize the information in the table.

I am reposting this question becuase the aid that I receivedbefore has left me a but confused as to how the person whomprovided an anwer, actually obtained the answer.

If I cannot understand how the answer was obtained then theanswer alone does not help me. If someone would not mindprovideding the answer and assistance as to how they met theirresults it would be greatlly appreciated.

A math problem

PROBLEM 1 - Simple Interest

How much interest will you earn in 6 months on $1,000  if the bank pays 3% simple interest annually?

PROBLEM 2 - Compound Interest

Aaron is earning 5% interest on his savings account. He starts with $5,000.00.How much money will he have in 6 months?

PROBLEM 3 - Compound interest rate with additional contributions

John is earning 6% compound interest on his savings account. He starts out with $2,000 and deposits $200 more into the account every month. Calculate how much money he will have in 6 months.

PROBLEM 4 - Compound Interest  for longer term

Hank leaves his  money for 1 year to see how much more it will grow. He deposits $10,000 at 5% for 12 months. How much interest does he make?

PROBLEM 4 - Compound Interest  for longer term

Hank leaves his  money for 1 year to see how much more it will grow.

He deposits $10,000 at 5% for 12 months. How much interest does he make?

What is anatomy

1. The total purchase price of a house, including closing costs of $1,500, is $266,500. The mortgage requires a down payment of 10% of the cost of the house, and the closing costs must be paid with the down payment. The remainder of the purchase price is to be repaid in monthly installments for 30 years with an APR of 5.2%. Calculate the uniform monthly mortgage payments, assuming monthly compounding of interest.

What’s the total paying at closing?

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