Maurice Tutor

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Category > Accounting Posted 22 Jul 2017 My Price 6.00

national home improvement chain

Home Station is a national home improvement chain with more than 100 stores throughout the country. The manager of each store receives a salary plus a bonus equal to a percent of the store’s net income for the reporting period. The following net income calculation is on the Denver store manager’s performance report for the recent monthly period.

Sales                        

$2,500,000

Cost of goods sold            

800,000

Wages expense               

500,000

Utilities expense              

200,000

Home office expense          

75,000

Net income                  

$ 925,000

Manager’s bonus (05%)        

$ 4,625

In previous periods, the bonus had also been 0.5%, but the performance report had not included any charges for the home office expense, which is now assigned to each store as a percent of its sales.

Required

Assume that you are the national office manager. Write a one-half page memorandum to your store managers explaining why home office expense is in the new performance report.

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Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 10:07 PM My Price 6.00

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