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Flashcards in HT Financials - General Deck (150):
0

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

Markdown

1

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

Angela Doster

2

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

Declines

3

Who is the Director of Beer and Wine?

Mark Smith

4

Who is over transfer?

Peggy Bell

5

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

$2.50

6

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

True

7

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

False

8

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

Gross Profit

9

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

Detail Trial Balance

10

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

Consolidated Invoice Report

11

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

Credit Detail Report

12

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

Annette Tyson

13

Retail Sales minus the cost of goods sold?

Markup before adjustments.

14

Product that cannot be account for -

Shrink

15

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

 

 

 

Detail Trial Balance

16

What are four major controllables?

Sales, Labor, Waste and Supplies

17

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

18

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

Waste

19

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

Bob Phillips

20

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

Larry Dunnegan

21

Do unsaleables affect Markup $?

No

22

What is Know Loss?

Markdowns and Throwaways

23

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.

24

Will unsaleables effect your markup on the SOS?

Yes

25

What time is the Charge Gross finalized? What day?

3pm on Fridays

26

Who is over reclaim?

George Thrower

27

Sushi is guaranteed at what %?

25%

28

Where is the "Cart Damages Paid For" placed on the SOS?

Uninsured Loss RMGT (Risk Management)?

29

What does RMGT stand for ?

Risk Management

30

Where does Loss for Robbery show up on the SOS ?

Uninsured Loss Store

31

Where does Loss for Refrigeration show upon the SOS?

Uninsured Loss Refrigeration

32

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

Supplemental Decline

33

Income from fees charged for returned checks?

Service Charge

34

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

ROCE - Return on Capital Employed

35

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

Other Fringes

36

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

B.) On the SOS?

A.) Markdowns, Throwaways and Shrink

B.) add adjusted Shrink

37

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

Regional Support

38

True or False - A fixed expense is controllable?

False

39

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

Asset List

40

What does IE stand for ?

Invoice Error

41

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

False

42

What does O/S stand for?

Over/Short

43

Is Rent a Controllable Expense?

No

44

Is Attainment on the Operating Statement?

No

45

Report that tells the TRUE profitability of a department?

Department Profitability Statement.

46

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

End of the quarter by Deena Phips

47

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

7 days

48

What application do you access the Order Register from?

SMART

49

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

True

50

True or False - Loss on Assets is controllable?

False

51

Can you amortize a computer?

No - You depreciate it

52

True or False - Adjustments from vendors can affect markup?

True

53

What department prepares the SOS?

Financial Services

54

Where do locate the Over/Short database?

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

55

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

Throwaways

56

Are transfers done at Retail or Cost?

Both

57

Executory cost are which .... Controllable or Uncontrollable?

Uncontrollable Example - Shopping cart upkeep

58

Formula for Ending Inventory?

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

59

Formula for Weeks Supply on Hand (WSOH)?

WSOH = Ending Inventory / Average Weekly Sales

60

Formula for Shrink

Shrink = Total To Account for - Total Accounted for

61

Formula for Total Accounted for?

Total Accounted for = Sales + Declines + Know Loss

Know Loss = Markdowns + Throwaways + Sup Declines

62

Formula for Total to Account for?

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

63

Formula for Gross Profit % ?

GP% = Gross Profit $ / Retail Sales

64

Formula for Gross Profit $ ?

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

65

Formula for Markup$ =

MU$ = Retail$ - Cost$

66

Formula for MU%

MU$ / Retail

67

Formula for Cost

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

Method 2 - Cost = 100-MU% * Retail

68

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

Ingredients

69

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

70

What does shrink do when retail goes down?

Shrink goes up

71

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

Asset List

72

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

1/2 case or more

73

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

24 hours

74

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

Item Maintenance

75

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

Adjusted Shrink

76

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

Order Register

77

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

$100

78

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

$500 / a pallet / a shipper

79

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

Vendor Violations

80

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

Item Lookup

81

When does the Charge Gross finalize?

Friday 3pm

82

List three examples of general supplies.

Tags, Price Guns, Jackets

83

Name the document that verifies correct billing matches merchandise received?

Invoice

84

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

Yes - IF he left the building

85

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

86

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

Expense Report

87

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

$4.59

88

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

General Supply

89

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

Hours control

90

Who's in charge of Snacks and Chips?

Pieora Green

91

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

Hours FE Total

92

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

Executory Cost

93

Expense for special outings, flowers sent to associates?

Employee Moral

94

Proration of Property Improvement costs over items estimated life?

Amortization

95

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

Depreciation

96

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

Customer Service Income

97

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

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

98

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

99

Who is the CFO?

Scott Nations

100

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

Preliminary DSD

101

When sales decrease, how does this effect fixed expenses?

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

102

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

Favorable

103

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%

104

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

True

105

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

Favorable

106

Who does RX credits and all Order Register correction ?

Deena Phipps

107

Who handles issues with the SOS Statement?

Donna Greer

108

True or False - Uninsured loss is a controllable expense?

True

109

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

Yes

110

Formula for Average Hourly Rate?

AHR = Wage$ / Hours

111

Formula for SPMH (Sale per man hour) ?

SPMH = Sales $ / Hours

112

Formula for Wage $ ?

Wage $ = AHR * Hours

113

Formula for Wage % ?

Wage % = Wage $ / Sales

114

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

Should be favorable

115

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

Annette Tyson

116

Who does transfers?

Peggy Bell

117

Yes or No - Would unsaleables impact MU$ ?

Yes

118

Document that charges a department with an expense?

DPS - Department Profitability Statement

119

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

False

120

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

$1.00

121

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

True

122

True or False - Executory costs are a controllable expense?

False

123

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

True

124

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

125

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

False .... NOT Waste

126

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

Adjustments

127

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

Operating Overhead

128

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

Distribution

129

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

DPS, Department Profitability Statement

130

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

Regular retail

131

Proration of property improvements?

Amortization

132

Loss from robbery / employee theft ?

Uninsured Loss Store

133

Hours for Scanning & DSD Vendor Receiver?

Hours Controller

134

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

Anatoly Chesnokov

135

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

136

What does shrink% do when retail goes up?

Shrink% will go down

137

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

False, it is listed at cost

138

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

139

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

Advertising Decline

140

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

Charge Gross

141

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

Supplemental Declines

142

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

I/E Correction

143

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

SOS Statement

144

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

SOS Tree

145

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

Billbacks

146

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

147

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

0%

148

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

Attainment

149