HUEC_3043_Final_Review

HUEC_3043_Final_Review - 1. Calculate the Gross Sales if...

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1. Calculate the Gross Sales if Net Sales of a regional buying office were $41,000 and Customer Returns and Allowances totaled 7.5%. A. $44, 324 B. $44,075 C. $37,925 D. $3,075 2. A retailer occupies 750 sq. feet of space in a new town center development. Her first selling season she totaled $123,000 in gross sales and only $3,000 in customer returns. What is her inventory productivity if her available selling space is only 600 sq. feet? A. $175/sq ft. B. $205/sq ft. C. $200/sq ft. D. $164/sq ft. 3. To determine dollar amount of cash discount allowance you need to multiply what by the cash discount %? A. Number of items ordered B. SKUs shipped amount C. Invoice amount D. Billed delivered cost 4. All of the following are examples of a human resources productivity measure EXCEPT: A. Sales per hour B. Stock Turnover C. Selling Cost D. Units per Transaction Use the following example to answer the next 3 questions: A company posts a skeletal Profit and Loss showing a profit of $500, Expenses of $32,000 and a Cost of Goods Sold of $96,700. 5. Calculate the gross margin percent. A. 32.5% B. 74.8%
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C. 25.2% D. None of the above 6. What percent of the total net sales is profit? A. 3.8% B. 4.5% C. 10 % D. .38% 7. Calculate the Cost of Goods Sold percent. A. 32.5% B. 74.8% C. 25.2% D. None of the above 8. What are the 2 types of expenses as defined on the Profit and Loss sheet? A. Gross and Net B. COGS and Net C. Direct and Indirect D. Sales and Fees 9. Calculate the customer returns percent if Net Sales are $34,000 and customer returns and allowances are $4,500. A. 13.2% B. 86.7% C. 11.7% D. 15.3% 10. Define Retail Method of Inventory: - An accounting system used in retail stores that values merchandising at current retail price that can be converted to cost value by markup formula 11. Gross Margin is calculated by subtracting what expense category from Net Sales? A. Direct Expenses B. Indirect Expenses C. COGS D. SG&A Expenses
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12. A men’s suit department, over the first quarter has a billed merchandise invoices totaling $80,000; standard freight charges of $2,000; 7 1/2% in earned cash discounts and tailoring fees of $500. Calculate the COGS. A. $76,500 B. $82,000 C. $80,000 D. $88,500 13. What is the billed DELIVERED cost for the order placed in question 12? A. $76,500 B. $82,000 C. $80,000 D. $88,500 14. If a sportswear department had 3600 customer sales over the Presidents’ Day Weekend Sale, then what would be the sales productivity for $125,000 in net sales and $3,400 in customer returns and allowances? A. $34.72 Avg. Trans. B. $35.66 Avg. Trans C. $54.89 S.P.H D. 11% Selling Cost 15. Calculate Gross Margin if COGS are 34.5% of Net Sales. A. 34.5% B. 70.3% C. 65.5% D. Unable to calculate given the information 16. All of the following are basic profit factors EXCEPT:
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A. Sales B. Cost of Goods C. Expenses D. Productivity Use the example to answer the next 4 questions: A buyer for a Juniors Department is placing an order for Spring Capri Pants. Customer returns for this dept. are at 10.5% on net
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This note was uploaded on 02/14/2012 for the course HUEC 3043 taught by Professor Freeman during the Fall '10 term at LSU.

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HUEC_3043_Final_Review - 1. Calculate the Gross Sales if...

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