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MDP Study > HT Financials - General > Flashcards

HT Financials - General Flashcards

0
Q

Who is over item maintenance and handles all pricing issues. NOI System issues.

A

Angela Doster

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1
Q

A retail price reduction on an item in order to sell the item while it still has value to the customer.

A

Markdown

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2
Q

The difference between the retail charged to the store (cost) and the retail of the item sold to the customer. (Ex: VIC Specials)

A

Declines

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3
Q

Who is the Director of Beer and Wine?

A

Mark Smith

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4
Q

Who is over transfer?

A

Peggy Bell

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5
Q

Pepsi is on sale for $2.50 and the regular retail is $4.59. What price do we BASS in the Pepsi ?

A

$2.50

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6
Q

Fluctuation in inventory could be a sign of potential waste, True or False?

A

True

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7
Q

The DSD vendor will assist the receiver by grabbing and holding the items for the receiver to scan, True or False?

A

False

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8
Q

Total amount of money made after cost of sales, declines and waste?

A

Gross Profit

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9
Q

What report shoes every financial transaction which occurred in the store a period?

A

Detail Trial Balance

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10
Q

Name a report used to reconcile vendor deliveries with the order register?

A

Consolidated Invoice Report

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11
Q

Name the report that shows the transfer number and $ amounts of damaged items sent back to reclaim?

A

Credit Detail Report

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12
Q

Who does: Declines, Non-perishable inventory, SMART, Charge Gross?

A

Annette Tyson

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13
Q

Retail Sales minus the cost of goods sold?

A

Markup before adjustments.

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14
Q

Product that cannot be account for -

A

Shrink

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15
Q

Report which shows every financial transaction that occured in a store for one period and is used to research the SOS ?

A

Detail Trial Balance

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16
Q

What are four major controllables?

A

Sales, Labor, Waste and Supplies

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17
Q

How much $ was the store or department budgeted to make for the period? What is it called and where do you find it?

A

Contribution and it is found on the SOS

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18
Q

_______________ is Known Loss (Markdowns and Throwaways) Shrink and adjusted shrink.

A

Waste

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19
Q

Who handles the over/short issues in the Greensboro DC?

A

Bob Phillips

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20
Q

Who handles the over/short issues in the Indian Trails DC?

A

Larry Dunnegan

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21
Q

Do unsaleables affect Markup $?

A

No

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22
Q

What is Know Loss?

A

Markdowns and Throwaways

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23
Q

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

A. NO

B. The store sending the retail.

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24
Q

Will unsaleables effect your markup on the SOS?

A

Yes

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25
Q

What time is the Charge Gross finalized? What day?

A

3pm on Fridays

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26
Q

Who is over reclaim?

A

George Thrower

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27
Q

Sushi is guaranteed at what %?

A

25%

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28
Q

Where is the “Cart Damages Paid For” placed on the SOS?

A

Uninsured Loss RMGT (Risk Management)?

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29
Q

What does RMGT stand for ?

A

Risk Management

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30
Q

Where does Loss for Robbery show up on the SOS ?

A

Uninsured Loss Store

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31
Q

Where does Loss for Refrigeration show upon the SOS?

A

Uninsured Loss Refrigeration

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32
Q

Where do the $ for a Merchandising approved sampling show up on the SOS?

A

Supplemental Decline

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33
Q

Income from fees charged for returned checks?

A

Service Charge

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34
Q

Annualized operating profit divided by capital employed by the store at the beginning of the year?

A

ROCE - Return on Capital Employed

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35
Q

Benefits paid for vacation, holiday, jury duty, bonus, and retirement plans?

A

Other Fringes

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36
Q

A.) What is used to calculate WASTE on the Charge Gross?

B.) On the SOS?

A

A.) Markdowns, Throwaways and Shrink

B.) add adjusted Shrink

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37
Q

Each Stores share of the total operating expense for all support centers?

A

Regional Support

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38
Q

True or False - A fixed expense is controllable?

A

False

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39
Q

Which report would you NOT look at to analyze Meat Contribution? Asset List - Charge Gross - Department Contribution

A

Asset List

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40
Q

What does IE stand for ?

A

Invoice Error

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41
Q

True or False? Gross profit is listed on the Charge Gross, SOS, SRS and Labor Analysis.

A

False

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42
Q

What does O/S stand for?

A

Over/Short

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43
Q

Is Rent a Controllable Expense?

A

No

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44
Q

Is Attainment on the Operating Statement?

A

No

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45
Q

Report that tells the TRUE profitability of a department?

A

Department Profitability Statement.

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46
Q

The SOS Quarterly Statement is only updated when? By whom?

A

End of the quarter by Deena Phips

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47
Q

How many days do you have to check off invoices in the order register?

A

7 days

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48
Q

What application do you access the Order Register from?

A

SMART

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49
Q

True or False - Overstating known loss cause shrink to decline?

A

True

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50
Q

True or False - Loss on Assets is controllable?

A

False

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51
Q

Can you amortize a computer?

A

No - You depreciate it

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52
Q

True or False - Adjustments from vendors can affect markup?

A

True

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53
Q

What department prepares the SOS?

A

Financial Services

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54
Q

Where do locate the Over/Short database?

A

VMWARE, then store interactive folder, then Over/Short program

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55
Q

Which would you need to improve if you wanted to improve your gross profit, Throwaways or Deliveries?

A

Throwaways

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56
Q

Are transfers done at Retail or Cost?

A

Both

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57
Q

Executory cost are which …. Controllable or Uncontrollable?

A

Uncontrollable Example - Shopping cart upkeep

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58
Q

Formula for Ending Inventory?

A

Ending Inventory = Opening Inventory + Deliveries - sales - declines - markdowns - throwaways (All at retail)

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59
Q

Formula for Weeks Supply on Hand (WSOH)?

A

WSOH = Ending Inventory / Average Weekly Sales

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60
Q

Formula for Shrink

A

Shrink = Total To Account for - Total Accounted for

61
Q

Formula for Total Accounted for?

A

Total Accounted for = Sales + Declines + Know Loss

Know Loss = Markdowns + Throwaways + Sup Declines

62
Q

Formula for Total to Account for?

A

Total to Account for = Beginning Inventory + Deliveries - Ending Inventory

63
Q

Formula for Gross Profit % ?

A

GP% = Gross Profit $ / Retail Sales

64
Q

Formula for Gross Profit $ ?

A

GP$ = Retail Sales - Sales at Cost + Declines at Cost + Markdowns at Cost + Throwaways at Cost + Shrink at Cost

65
Q

Formula for Markup$ =

A

MU$ = Retail$ - Cost$

66
Q

Formula for MU%

A

MU$ / Retail

67
Q

Formula for Cost

A

Method 1 - Cost = Retail (1-MU%)

Method 2 - Cost = 100-MU% * Retail

68
Q

Secondary items used in the preparation of food sold to the customer are called?

A

Ingredients

69
Q

VERIFY **** How can you tell if a DSD invoice was paid by the warehouse?

A

DSD Invoice is not in order register. This is called Manual DSD

70
Q

What does shrink do when retail goes down?

A

Shrink goes up

71
Q

List of items that are Amortized and Depreciated in the store?

A

Asset List

72
Q

How much unsaleables do you need before you enter them in?

A

1/2 case or more

73
Q

Howlong do you have to report an Over/Short (Unsaleable or Transportation Damage)?

A

24 hours

74
Q

If you have problem with cost at the back door (DSD), who do you call?

A

Item Maintenance

75
Q

What are the results from warehouse inventories that are allocated to each store called?

A

Adjusted Shrink

76
Q

What report do you use to verify this weeks charges and credits to a department?

A

Order Register

77
Q

Transportation Damage requires a picture to get credit if the amount is over what $?

A

$100

78
Q

How much over/short do you need before you can claim them?

A

$500 / a pallet / a shipper

79
Q

What report in Soft Grocer do you pull up to see vendor errors?

A

Vendor Violations

80
Q

Where do you look up 10/20/30’s on pricing?

A

Item Lookup

81
Q

When does the Charge Gross finalize?

A

Friday 3pm

82
Q

List three examples of general supplies.

A

Tags, Price Guns, Jackets

83
Q

Name the document that verifies correct billing matches merchandise received?

A

Invoice

84
Q

Can you file for transportation damage if the driver does NOT sign the form?

A

Yes - IF he left the building

85
Q

What is the proper order of paperwork flow from the point of receiving a vendor invoice.

A

Vendor Invoice - Pre-DSD Invoice - Final DSD Consolidated Invoice Report - Vendor Violation Report - Exception Report - Post Voided Invoice Report - Order Register - Charge Gross - SOS

86
Q

What form do you fill out for expenses over $25?

A

Expense Report

87
Q

Pepsi so on sale for $2.49 and regular $4.59. What price do we inventory the item at ?

A

$4.59

88
Q

Supplies used in course of operations, name tags, forms, price guns, stock carts, jackets ……

A

General Supply

89
Q

VERIFY **** Total hours worked by Scan & Receiver?

A

Hours control

90
Q

Who’s in charge of Snacks and Chips?

A

Pieora Green

91
Q

Hours worked by Front End Cashier, Bagger and Customer Service?

A

Hours FE Total

92
Q

Expense related to upkeep of the shopping center including common area maintenance?

A

Executory Cost

93
Q

Expense for special outings, flowers sent to associates?

A

Employee Moral

94
Q

Proration of Property Improvement costs over items estimated life?

A

Amortization

95
Q

Proration of fixture & equipment cost over the items estimated life?

A

Depreciation

96
Q

Income received from delivering products to the customer (floral arrangements! deli trays! stamps …..)?

A

Customer Service Income

97
Q

Formula for sales growth% (+/-) to budgeted sales?

A

Sales Growth % = (Actual $ - Budget $) / Budget $

98
Q

How often do you have to Check off beer & wine logs/invoices?

Where do you find the report?

A

Once a week

It is located in VMWARE

99
Q

Who is the CFO?

A

Scott Nations

100
Q

Name the document used to check cost, retail & quantity against the vendor invoice?

A

Preliminary DSD

101
Q

When sales decrease, how does this effect fixed expenses?

A

Fixed Expenses% will increase, dollar amount will not change (hence the FIXED part)

102
Q

YTD Waste went from 10,715 to -11,308 in the period. Is this favorable or unfavorable ?

A

Favorable

103
Q

What is the % of the increase/decrease to sales ? $ this year $897,190 $ last year $911,203

A

(This Year - Last year) / Last year (897,190-911,203) / 911,203 = -1.54%

104
Q

True or False - SPMH is found on the operating statement?

A

True

105
Q

Is the contribution to the department, favorable or unfavorable? Budget 70,077 for 21.75% Actual 83,179 for 25.18%

A

Favorable

106
Q

Who does RX credits and all Order Register correction ?

A

Deena Phipps

107
Q

Who handles issues with the SOS Statement?

A

Donna Greer

108
Q

True or False - Uninsured loss is a controllable expense?

A

True

109
Q

Yes or No - Would monies from vendors allocated to your store on the operating statement impact markup?

A

Yes

110
Q

Formula for Average Hourly Rate?

A

AHR = Wage$ / Hours

111
Q

Formula for SPMH (Sale per man hour) ?

A

SPMH = Sales $ / Hours

112
Q

Formula for Wage $ ?

A

Wage $ = AHR * Hours

113
Q

Formula for Wage % ?

A

Wage % = Wage $ / Sales

114
Q

Hunter Farms should/should not be favorable to budget YTD?

A

Should be favorable

115
Q

Who does Declines, Non-Perishable Inventories, SMART and Charge Gross adjustments?

A

Annette Tyson

116
Q

Who does transfers?

A

Peggy Bell

117
Q

Yes or No - Would unsaleables impact MU$ ?

A

Yes

118
Q

Document that charges a department with an expense?

A

DPS - Department Profitability Statement

119
Q

True or False - Pharmacy salaried hours are in other labor ?

A

False

120
Q

If the DSD final document has: 1 qty E PK 10 Cost $10 What is the extended cost?

A

$1.00

121
Q

True or False - Support charges include advertising, warehouse, transport and operating overhead?

A

True

122
Q

True or False - Executory costs are a controllable expense?

A

False

123
Q

SPMH is a way of measuring productivity and can be found on the SOS ?

A

True

124
Q

True or False - Attainment is a way of measuring productivity and can be found on the operating statement?

A

False it can be found on Labor Stanadards

125
Q

True or False - A way of measuring labor is the use of SPMH, Attainment, Wage% and Waste?

A

False …. NOT Waste

126
Q

Any income or expense related to the purchase of a product is called what?

A

Adjustments

127
Q

Each stores share of the TOTAL operating expense for ALL support centers?

A

Operating Overhead

128
Q

Department sales in relation to total store sales is called what?

A

Distribution

129
Q

Charges each department with their share of expenses and calculates true profitability?

A

DPS, Department Profitability Statement

130
Q

Are items on VIC inventoried at regular retail or VIC retail?

A

Regular retail

131
Q

Proration of property improvements?

A

Amortization

132
Q

Loss from robbery / employee theft ?

A

Uninsured Loss Store

133
Q

Hours for Scanning & DSD Vendor Receiver?

A

Hours Controller

134
Q

Who does Beer, Wine and Non-Perishable inventory reports?

A

Anatoly Chesnokov

135
Q

List the pricing tags and tell what is “Ad” and what is “Not Ad”?

A

10 No Decline Not onAd

20 Decline Not onAd

30 No Decline on Ad

40 Decline on Ad

136
Q

What does shrink% do when retail goes up?

A

Shrink% will go down

137
Q

True or False - Gross Profit is listed on the SOS at retail?

A

False, it is listed at cost

138
Q

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?

A

Paid Out

Store Manager

$25

139
Q

What do you call the difference between regular price and sale price of an item?

A

Advertising Decline

140
Q

Weekly management tool used to get a snapshot view of a departments performance?

A

Charge Gross

141
Q

What do you call the method used to account for samples?

A

Supplemental Declines

142
Q

What do you call an item rebilled after delivery and shows on order register?

A

I/E Correction

143
Q

Name the report which shows the stores financial results by total store and department?

A

SOS Statement

144
Q

What is the name of the flow chart the shows HT’s financial reporting system?

A

SOS Tree

145
Q

Income received related to promotions. Vendor incomes allocated to stores based on department decline amounts?

A

Billbacks

146
Q

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?

A

Capital Project Expense

147
Q

What is the goal for the Stores scan file error rate ?

A

0%

148
Q

Describes the comparison between labor hours available to use and what was actually used.

A

Attainment

149
Q
A

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