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Dicision Case
Donna Tse has recently accepted the position of assistant manager at Cycle World, a bicycle store in St. Louis. She has just finished her accounting courses. Cycle World's manager and owner, Jeff Towry, asks Tse to prepare a budgeted income statement for 2011 based on the information he has collected. Tse's budget follows:
CYCLE WORLD Budgeted Income Statement For the Year Ending July 31, 2011
Sales revenue
324,1,000
Cint d goods sold
Cross profit
67,000
Operati ng ex penscs:
Salary and commission expense
5,16.000
Rem expense
8,000
Depredation expense
2,000
Insurance expense
800
Miscellaneous expenses
12.000
68,800
Operating loss
(1,800)
Interest expense
1225)
Net loth
$ (2,0251
Requirement
1. Tse does not want to give Towry this budget without making constructive suggestions for steps Towry could take to improve expected performance. Write a memo to Towry outlining your suggestions.
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