HT Financials - General Flashcards
Who is over item maintenance and handles all pricing issues. NOI System issues.
Angela Doster
A retail price reduction on an item in order to sell the item while it still has value to the customer.
Markdown
The difference between the retail charged to the store (cost) and the retail of the item sold to the customer. (Ex: VIC Specials)
Declines
Who is the Director of Beer and Wine?
Mark Smith
Who is over transfer?
Peggy Bell
Pepsi is on sale for $2.50 and the regular retail is $4.59. What price do we BASS in the Pepsi ?
$2.50
Fluctuation in inventory could be a sign of potential waste, True or False?
True
The DSD vendor will assist the receiver by grabbing and holding the items for the receiver to scan, True or False?
False
Total amount of money made after cost of sales, declines and waste?
Gross Profit
What report shoes every financial transaction which occurred in the store a period?
Detail Trial Balance
Name a report used to reconcile vendor deliveries with the order register?
Consolidated Invoice Report
Name the report that shows the transfer number and $ amounts of damaged items sent back to reclaim?
Credit Detail Report
Who does: Declines, Non-perishable inventory, SMART, Charge Gross?
Annette Tyson
Retail Sales minus the cost of goods sold?
Markup before adjustments.
Product that cannot be account for -
Shrink
Report which shows every financial transaction that occured in a store for one period and is used to research the SOS ?
Detail Trial Balance
What are four major controllables?
Sales, Labor, Waste and Supplies
How much $ was the store or department budgeted to make for the period? What is it called and where do you find it?
Contribution and it is found on the SOS
_______________ is Known Loss (Markdowns and Throwaways) Shrink and adjusted shrink.
Waste
Who handles the over/short issues in the Greensboro DC?
Bob Phillips
Who handles the over/short issues in the Indian Trails DC?
Larry Dunnegan
Do unsaleables affect Markup $?
No
What is Know Loss?
Markdowns and Throwaways
A. Can vendors carry transfers and products from store to store?
B. Who’s cost and retail are used when transferring product store to store?
A. NO
B. The store sending the retail.
Will unsaleables effect your markup on the SOS?
Yes
What time is the Charge Gross finalized? What day?
3pm on Fridays
Who is over reclaim?
George Thrower
Sushi is guaranteed at what %?
25%
Where is the “Cart Damages Paid For” placed on the SOS?
Uninsured Loss RMGT (Risk Management)?
What does RMGT stand for ?
Risk Management
Where does Loss for Robbery show up on the SOS ?
Uninsured Loss Store
Where does Loss for Refrigeration show upon the SOS?
Uninsured Loss Refrigeration
Where do the $ for a Merchandising approved sampling show up on the SOS?
Supplemental Decline
Income from fees charged for returned checks?
Service Charge
Annualized operating profit divided by capital employed by the store at the beginning of the year?
ROCE - Return on Capital Employed
Benefits paid for vacation, holiday, jury duty, bonus, and retirement plans?
Other Fringes
A.) What is used to calculate WASTE on the Charge Gross?
B.) On the SOS?
A.) Markdowns, Throwaways and Shrink
B.) add adjusted Shrink
Each Stores share of the total operating expense for all support centers?
Regional Support
True or False - A fixed expense is controllable?
False
Which report would you NOT look at to analyze Meat Contribution? Asset List - Charge Gross - Department Contribution
Asset List
What does IE stand for ?
Invoice Error
True or False? Gross profit is listed on the Charge Gross, SOS, SRS and Labor Analysis.
False
What does O/S stand for?
Over/Short
Is Rent a Controllable Expense?
No
Is Attainment on the Operating Statement?
No
Report that tells the TRUE profitability of a department?
Department Profitability Statement.
The SOS Quarterly Statement is only updated when? By whom?
End of the quarter by Deena Phips
How many days do you have to check off invoices in the order register?
7 days
What application do you access the Order Register from?
SMART
True or False - Overstating known loss cause shrink to decline?
True
True or False - Loss on Assets is controllable?
False
Can you amortize a computer?
No - You depreciate it
True or False - Adjustments from vendors can affect markup?
True
What department prepares the SOS?
Financial Services
Where do locate the Over/Short database?
VMWARE, then store interactive folder, then Over/Short program
Which would you need to improve if you wanted to improve your gross profit, Throwaways or Deliveries?
Throwaways
Are transfers done at Retail or Cost?
Both
Executory cost are which …. Controllable or Uncontrollable?
Uncontrollable Example - Shopping cart upkeep
Formula for Ending Inventory?
Ending Inventory = Opening Inventory + Deliveries - sales - declines - markdowns - throwaways (All at retail)
Formula for Weeks Supply on Hand (WSOH)?
WSOH = Ending Inventory / Average Weekly Sales
Formula for Shrink
Shrink = Total To Account for - Total Accounted for
Formula for Total Accounted for?
Total Accounted for = Sales + Declines + Know Loss
Know Loss = Markdowns + Throwaways + Sup Declines
Formula for Total to Account for?
Total to Account for = Beginning Inventory + Deliveries - Ending Inventory
Formula for Gross Profit % ?
GP% = Gross Profit $ / Retail Sales
Formula for Gross Profit $ ?
GP$ = Retail Sales - Sales at Cost + Declines at Cost + Markdowns at Cost + Throwaways at Cost + Shrink at Cost
Formula for Markup$ =
MU$ = Retail$ - Cost$
Formula for MU%
MU$ / Retail
Formula for Cost
Method 1 - Cost = Retail (1-MU%)
Method 2 - Cost = 100-MU% * Retail
Secondary items used in the preparation of food sold to the customer are called?
Ingredients
VERIFY **** How can you tell if a DSD invoice was paid by the warehouse?
DSD Invoice is not in order register. This is called Manual DSD
What does shrink do when retail goes down?
Shrink goes up
List of items that are Amortized and Depreciated in the store?
Asset List
How much unsaleables do you need before you enter them in?
1/2 case or more
Howlong do you have to report an Over/Short (Unsaleable or Transportation Damage)?
24 hours
If you have problem with cost at the back door (DSD), who do you call?
Item Maintenance
What are the results from warehouse inventories that are allocated to each store called?
Adjusted Shrink
What report do you use to verify this weeks charges and credits to a department?
Order Register
Transportation Damage requires a picture to get credit if the amount is over what $?
$100
How much over/short do you need before you can claim them?
$500 / a pallet / a shipper
What report in Soft Grocer do you pull up to see vendor errors?
Vendor Violations
Where do you look up 10/20/30’s on pricing?
Item Lookup
When does the Charge Gross finalize?
Friday 3pm
List three examples of general supplies.
Tags, Price Guns, Jackets
Name the document that verifies correct billing matches merchandise received?
Invoice
Can you file for transportation damage if the driver does NOT sign the form?
Yes - IF he left the building
What is the proper order of paperwork flow from the point of receiving a vendor invoice.
Vendor Invoice - Pre-DSD Invoice - Final DSD Consolidated Invoice Report - Vendor Violation Report - Exception Report - Post Voided Invoice Report - Order Register - Charge Gross - SOS
What form do you fill out for expenses over $25?
Expense Report
Pepsi so on sale for $2.49 and regular $4.59. What price do we inventory the item at ?
$4.59
Supplies used in course of operations, name tags, forms, price guns, stock carts, jackets ……
General Supply
VERIFY **** Total hours worked by Scan & Receiver?
Hours control
Who’s in charge of Snacks and Chips?
Pieora Green
Hours worked by Front End Cashier, Bagger and Customer Service?
Hours FE Total
Expense related to upkeep of the shopping center including common area maintenance?
Executory Cost
Expense for special outings, flowers sent to associates?
Employee Moral
Proration of Property Improvement costs over items estimated life?
Amortization
Proration of fixture & equipment cost over the items estimated life?
Depreciation
Income received from delivering products to the customer (floral arrangements! deli trays! stamps …..)?
Customer Service Income
Formula for sales growth% (+/-) to budgeted sales?
Sales Growth % = (Actual $ - Budget $) / Budget $
How often do you have to Check off beer & wine logs/invoices?
Where do you find the report?
Once a week
It is located in VMWARE
Who is the CFO?
Scott Nations
Name the document used to check cost, retail & quantity against the vendor invoice?
Preliminary DSD
When sales decrease, how does this effect fixed expenses?
Fixed Expenses% will increase, dollar amount will not change (hence the FIXED part)
YTD Waste went from 10,715 to -11,308 in the period. Is this favorable or unfavorable ?
Favorable
What is the % of the increase/decrease to sales ? $ this year $897,190 $ last year $911,203
(This Year - Last year) / Last year (897,190-911,203) / 911,203 = -1.54%
True or False - SPMH is found on the operating statement?
True
Is the contribution to the department, favorable or unfavorable? Budget 70,077 for 21.75% Actual 83,179 for 25.18%
Favorable
Who does RX credits and all Order Register correction ?
Deena Phipps
Who handles issues with the SOS Statement?
Donna Greer
True or False - Uninsured loss is a controllable expense?
True
Yes or No - Would monies from vendors allocated to your store on the operating statement impact markup?
Yes
Formula for Average Hourly Rate?
AHR = Wage$ / Hours
Formula for SPMH (Sale per man hour) ?
SPMH = Sales $ / Hours
Formula for Wage $ ?
Wage $ = AHR * Hours
Formula for Wage % ?
Wage % = Wage $ / Sales
Hunter Farms should/should not be favorable to budget YTD?
Should be favorable
Who does Declines, Non-Perishable Inventories, SMART and Charge Gross adjustments?
Annette Tyson
Who does transfers?
Peggy Bell
Yes or No - Would unsaleables impact MU$ ?
Yes
Document that charges a department with an expense?
DPS - Department Profitability Statement
True or False - Pharmacy salaried hours are in other labor ?
False
If the DSD final document has: 1 qty E PK 10 Cost $10 What is the extended cost?
$1.00
True or False - Support charges include advertising, warehouse, transport and operating overhead?
True
True or False - Executory costs are a controllable expense?
False
SPMH is a way of measuring productivity and can be found on the SOS ?
True
True or False - Attainment is a way of measuring productivity and can be found on the operating statement?
False it can be found on Labor Stanadards
True or False - A way of measuring labor is the use of SPMH, Attainment, Wage% and Waste?
False …. NOT Waste
Any income or expense related to the purchase of a product is called what?
Adjustments
Each stores share of the TOTAL operating expense for ALL support centers?
Operating Overhead
Department sales in relation to total store sales is called what?
Distribution
Charges each department with their share of expenses and calculates true profitability?
DPS, Department Profitability Statement
Are items on VIC inventoried at regular retail or VIC retail?
Regular retail
Proration of property improvements?
Amortization
Loss from robbery / employee theft ?
Uninsured Loss Store
Hours for Scanning & DSD Vendor Receiver?
Hours Controller
Who does Beer, Wine and Non-Perishable inventory reports?
Anatoly Chesnokov
List the pricing tags and tell what is “Ad” and what is “Not Ad”?
10 No Decline Not onAd
20 Decline Not onAd
30 No Decline on Ad
40 Decline on Ad
What does shrink% do when retail goes up?
Shrink% will go down
True or False - Gross Profit is listed on the SOS at retail?
False, it is listed at cost
Cash for items purchased from sources other than the warehouse and approved vendors is called what? Who must approve? What $ amount must it be less if the item is NOT for resale?
Paid Out
Store Manager
$25
What do you call the difference between regular price and sale price of an item?
Advertising Decline
Weekly management tool used to get a snapshot view of a departments performance?
Charge Gross
What do you call the method used to account for samples?
Supplemental Declines
What do you call an item rebilled after delivery and shows on order register?
I/E Correction
Name the report which shows the stores financial results by total store and department?
SOS Statement
What is the name of the flow chart the shows HT’s financial reporting system?
SOS Tree
Income received related to promotions. Vendor incomes allocated to stores based on department decline amounts?
Billbacks
Consumable items with a useful life of less than one year and a unit cost of less than $1000 and must be paid off in 3 months?
Capital Project Expense
What is the goal for the Stores scan file error rate ?
0%
Describes the comparison between labor hours available to use and what was actually used.
Attainment
