A retail price reduction on an item in order to sell the item while it still has value to the customer.
Who is over item maintenance and handles all pricing issues. NOI System issues.
The difference between the retail charged to the store (cost) and the retail of the item sold to the customer. (Ex: VIC Specials)
Who is the Director of Beer and Wine?
Who is over transfer?
Pepsi is on sale for $2.50 and the regular retail is $4.59. What price do we BASS in the Pepsi ?
Fluctuation in inventory could be a sign of potential waste, True or False?
The DSD vendor will assist the receiver by grabbing and holding the items for the receiver to scan, True or False?
Total amount of money made after cost of sales, declines and waste?
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?
Retail Sales minus the cost of goods sold?
Markup before adjustments.
Product that cannot be account for -
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.
Who handles the over/short issues in the Greensboro DC?
Who handles the over/short issues in the Indian Trails DC?
Do unsaleables affect Markup $?
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?
B. The store sending the retail.
Will unsaleables effect your markup on the SOS?
What time is the Charge Gross finalized? What day?
3pm on Fridays
Who is over reclaim?
Sushi is guaranteed at what %?
Where is the "Cart Damages Paid For" placed on the SOS?
Uninsured Loss RMGT (Risk Management)?
What does RMGT stand for ?
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?
Income from fees charged for returned checks?
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?
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?
True or False - A fixed expense is controllable?
Which report would you NOT look at to analyze Meat Contribution? Asset List - Charge Gross - Department Contribution
What does IE stand for ?
True or False? Gross profit is listed on the Charge Gross, SOS, SRS and Labor Analysis.
What does O/S stand for?
Is Rent a Controllable Expense?
Is Attainment on the Operating Statement?
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?
What application do you access the Order Register from?
True or False - Overstating known loss cause shrink to decline?
True or False - Loss on Assets is controllable?
Can you amortize a computer?
No - You depreciate it
True or False - Adjustments from vendors can affect markup?
What department prepares the SOS?
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?
Are transfers done at Retail or Cost?
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?
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?
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)?
If you have problem with cost at the back door (DSD), who do you call?
What are the results from warehouse inventories that are allocated to each store called?
What report do you use to verify this weeks charges and credits to a department?
Transportation Damage requires a picture to get credit if the amount is over what $?
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?
Where do you look up 10/20/30's on pricing?
When does the Charge Gross finalize?
List three examples of general supplies.
Tags, Price Guns, Jackets
Name the document that verifies correct billing matches merchandise received?
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?
Pepsi so on sale for $2.49 and regular $4.59. What price do we inventory the item at ?
Supplies used in course of operations, name tags, forms, price guns, stock carts, jackets ......
VERIFY **** Total hours worked by Scan & Receiver?
Who's in charge of Snacks and Chips?
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?
Expense for special outings, flowers sent to associates?
Proration of Property Improvement costs over items estimated life?
Proration of fixture & equipment cost over the items estimated life?
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?
Name the document used to check cost, retail & quantity against the vendor invoice?
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 ?
What is the % of the increase/decrease to sales ? $ this year $897,190 $ last year $911,203
(This Year - Last year) / Last year (897,190-911,203) / 911,203 = -1.54%
True or False - SPMH is found on the operating statement?
Is the contribution to the department, favorable or unfavorable? Budget 70,077 for 21.75% Actual 83,179 for 25.18%
Who does RX credits and all Order Register correction ?
Who handles issues with the SOS Statement?
True or False - Uninsured loss is a controllable expense?
Yes or No - Would monies from vendors allocated to your store on the operating statement impact markup?
Formula for Average Hourly Rate?
AHR = Wage$ / 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?
Who does transfers?
Yes or No - Would unsaleables impact MU$ ?
Document that charges a department with an expense?
DPS - Department Profitability Statement
True or False - Pharmacy salaried hours are in other labor ?
If the DSD final document has: 1 qty E PK 10 Cost $10 What is the extended cost?
True or False - Support charges include advertising, warehouse, transport and operating overhead?
True or False - Executory costs are a controllable expense?
SPMH is a way of measuring productivity and can be found on the SOS ?
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?
Each stores share of the TOTAL operating expense for ALL support centers?
Department sales in relation to total store sales is called what?
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?
Proration of property improvements?
Loss from robbery / employee theft ?
Uninsured Loss Store
Hours for Scanning & DSD Vendor Receiver?
Who does Beer, Wine and Non-Perishable inventory reports?
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?
What do you call the difference between regular price and sale price of an item?
Weekly management tool used to get a snapshot view of a departments performance?
What do you call the method used to account for samples?
What do you call an item rebilled after delivery and shows on order register?
Name the report which shows the stores financial results by total store and department?
What is the name of the flow chart the shows HT's financial reporting system?
Income received related to promotions. Vendor incomes allocated to stores based on department decline amounts?
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 ?
Describes the comparison between labor hours available to use and what was actually used.