work

Question 1

What are the 4 priorities of ASM?

Answer 1

Numbers, Customers, Personnel, Store

Question 2

What is Net Operating Income?

Answer 2

The final Take home amount the company makes.

Question 3

What does NOI stand for?

Answer 3

Net Operating Income

Question 4

What does SG&A stand for?

Answer 4

Selling, General, and Administrative expense

Question 5

What is Selling, General, and Administrative expense?

Answer 5

Any expense the company has to pay for including buying S/A/B/C ranks, Security, Personnel wages, and any other necessary expenses such as cleaning supplies/stationary/etc

Question 6

What is the Gross Profit Margin?

Answer 6

The rate at which we are profiting

Question 7

What is the Budget (terminology)?

Answer 7

The minimum amount we have to make based on former sales and numbers

Question 8

What is the Budget for the month of March (numerically)?

Answer 8

178,000

Question 9

What is the Forecast (terminology)?

Answer 9

How much we are predicted to make this month in sales overall

Question 10

What is the equation for Net Operating Income

Answer 10

First: Net Sales minus Cost of Goods Sold = Gross Profit
Second: Gross Profit minus Selling General and Administrative Expense = Net Operating income

Question 11

What is the Forecast for the month of March (numerically)?

Answer 11

176,449

Question 12

What is Hawthorne’s store format?

Answer 12

Fashionable

Question 13

What rank percentages do Fashionable format stores need to have?

Answer 13

60% S&A 40% B&C

Question 14

What do we want the monthly turnover rate to be for S,A, and B ranks? C ranks?

Answer 14

85%-100%, 60%

Question 15

Conversion rate for fashionable format stores?

Answer 15

18%, current forecast 22.3%