Australian Hardware

Budget Variation Report - Wollongong Store

Australian Hardware Wollongong
Budget Variation Report
Prepared by: Lynn Lee 30 June
FY Actual $Var %Var Q1 Actual Var %Var Q2 Actual $Var %Var Q3 Actual $Var %Var Q4 Actual $Var %Var
REVENUE
Less commissions 77,500 67,500 (10,000) (13%) 17,500 15,000 (2,500) (14%) 25,000 22,500 (2,500) (10%) 17,500 15,000 (2,500) (14%) 17,500 15,000 (2,500) (14%)
Less direct wages fixed 200,000 200,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0%
Sales timber 5,700,000 6,000,000 300,000.00 5% 1,425,000 1,500,000 75,000.00 5% 1,425,000 1,500,000 75,000.00 5% 1,425,000 1,500,000 75,000.00 5% 1,425,000 1,500,000 75,000.00 5%
Sales hardware 3,700,000 4,000,000 300,000.00 8% 925,000 1,000,000 75,000.00 8% 925,000 1,000,000 75,000.00 8% 925,000 1,000,000 75,000.00 8% 925,000 1,000,000 75,000.00 8%
Sales tools 4,300,000 4,800,000 500,000.00 12% 1,075,000 1,200,000 125,000.00 12% 1,075,000 1,200,000 125,000.00 12% 1,075,000 1,200,000 125,000.00 12% 1,075,000 1,200,000 125,000.00 12%
Sales paint 3,250,000 3,200,000 (50,000) (2%) 812,500 800,000 (12,500) (2%) 812,500 800,000 (12,500) (2%) 812,500 800,000 (12,500) (2%) 812,500 800,000 (12,500) (2%)
Sales housewares 5,300,000 3,200,000 (2,100,000) (40%) 1,325,000 800,000 (525,000) (40%) 1,325,000 800,000 (525,000) (40%) 1,325,000 800,000 (525,000) (40%) 1,325,000 800,000 (525,000) (40%)
Sales outdoor 3,450,000 3,600,000 150,000.00 4% 862,500 900,000 37,500.00 4% 862,500 900,000 37,500.00 4% 862,500 900,000 37,500.00 4% 862,500 900,000 37,500.00 4%
Sales garden 2,400,000 2,800,000 400,000.00 17% 600,000 700,000 100,000.00 17% 600,000 700,000 100,000.00 17% 600,000 700,000 100,000.00 17% 600,000 700,000 100,000.00 17%
Total sales 28,100,000 27,600,000 (500,000) (2%) 7,025,000 6,900,000 (125,000) (2%) 7,025,000 6,900,000 (125,000) (2%) 7,025,000 6,900,000 (125,000) (2%) 7,025,000 6,900,000 (125,000) (2%)
Cost of goods sold (COGS) 14,000,000 14,000,000 0.00 0% 3,500,000 3,500,000 0.00 0% 3,500,000 3,500,000 0.00 0% 3,500,000 3,500,000 0.00 0% 3,500,000 3,500,000 0.00 0%
Gross Profit 13,822,500 13,332,500 (490,000) (4%) 3,457,500 3,335,000 (122,500) (4%) 3,450,000 3,327,500 (122,500) (4%) 3,457,500 3,335,000 (122,500) (4%) 3,457,500 3,335,000 (122,500) (4%)
EXPENSES
General & Administrative Expenses
Travel 200,000 200,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0%
Legal fees 50,000 50,000 0.00 0% 12,500 12,500 0.00 0% 12,500 12,500 0.00 0% 12,500 12,500 0.00 0% 12,500 12,500 0.00 0%
Bank charges 6,000 6,000 0.00 0% 1,500 1,500 0.00 0% 1,500 1,500 0.00 0% 1,500 1,500 0.00 0% 1,500 1,500 0.00 0%
Office supplies 5,000 5,000 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0%
Postage & printing 4,000 4,000 0.00 0% 1,000 1,000 0.00 0% 1,000 1,000 0.00 0% 1,000 1,000 0.00 0% 1,000 1,000 0.00 0%
Dues & subscriptions 5,000 5,000 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0%

Telephone 100,000 100,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0%
Training 100,000 100,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0%
Depreciation 300,000 300,000 0.00 0% 75,000 75,000 0.00 0% 75,000 75,000 0.00 0% 75,000 75,000 0.00 0% 75,000 75,000 0.00 0%
Payroll tax 225,000 225,000 0.00 0% 56,250 56,250 0.00 0% 56,250 56,250 0.00 0% 56,250 56,250 0.00 0% 56,250 56,250 0.00 0%
Marketing Expenses
Advertising 1,000,000 1,000,000 0.00 0% 250,000 250,000 0.00 0% 250,000 250,000 0.00 0% 250,000 250,000 0.00 0% 250,000 250,000 0.00 0%
Employment Expenses 0.00 0.00 0.00 0.00 0.00
Superannuation 405,000 405,000 0.00 0% 101,250 101,250 0.00 0% 101,250 101,250 0.00 0% 101,250 101,250 0.00 0% 101,250 101,250 0.00 0%
Wages & salaries 4,500,000 4,500,000 0.00 0% 1,125,000 1,125,000 0.00 0% 1,125,000 1,125,000 0.00 0% 1,125,000 1,125,000 0.00 0% 1,125,000 1,125,000 0.00 0%
Staff amenities 200,000 200,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0%
Occupancy Costs
Electricity 400,000 400,000 0.00 0% 100,000 100,000 0.00 0% 100,000 100,000 0.00 0% 100,000 100,000 0.00 0% 100,000 100,000 0.00 0%
Insurance 1,000,000 1,000,000 0.00 0% 250,000 250,000 0.00 0% 250,000 250,000 0.00 0% 250,000 250,000 0.00 0% 250,000 250,000 0.00 0%
Rates 1,000,000 1,000,000 0.00 0% 250,000 250,000 0.00 0% 250,000 250,000 0.00 0% 250,000 250,000 0.00 0% 250,000 250,000 0.00 0%
Rent 1,200,000 1,200,000 0.00 0% 300,000 300,000 0.00 0% 300,000 300,000 0.00 0% 300,000 300,000 0.00 0% 300,000 300,000 0.00 0%
Water 300,000 300,000 0.00 0% 75,000 75,000 0.00 0% 75,000 75,000 0.00 0% 75,000 75,000 0.00 0% 75,000 75,000 0.00 0%
Waste removal 50,000 50,000 0.00 0% 12,500 12,500 0.00 0% 12,500 12,500 0.00 0% 12,500 12,500 0.00 0% 12,500 12,500 0.00 0%
TOTAL EXPENSES 11,050,000 11,050,000 0.00 0% 2,762,500 2,762,500 0.00 0% 2,762,500 2,762,500 0.00 0% 2,762,500 2,762,500 0.00 0% 2,762,500 2,762,500 0.00 0%
NET PROFIT (BEFORE INTEREST & TAX) 2,772,500 2,282,500 (490,000) (18%) 695,000 572,500 (122,500) (18%) 687,500 565,000 (122,500) (18%) 695,000 572,500 (122,500) (18%) 695,000 572,500 (122,500) (18%)
Income Tax Expense (25%Net) 693,125 570,625 (122,500) (18%)
NET PROFIT AFTER TAX 2,079,375 1,711,875 (367,500) -18%
 Australian Hardware
General Operations Cost Centre
Expenses (Wollongong)
Australian Hardware Wollongong: General Operations Cost Centre Expenses
Budget Variation Report
Prepared by: Lynn Lee 30 June
FY Actual $Var %Var Q1 Actual Var %Var Q2 Actual $Var %Var Q3 Actual $Var %Var Q4 Actual $Var %Var
EXPENSES
General & Administrative
Expenses
Travel 200,000 200,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0% 50,000 50,000 0.00 0%
Legal Fees 50,000 50,000 0.00 0% 12,500 12,500 0.00 0% 12,500 12,500 0.00 0% 12,500 12,500 0.00 0% 12,500 12,500 0.00 0%
Bank Charges 6,000 6,000 0.00 0% 1,500 1,500 0.00 0% 1,500 1,500 0.00 0% 1,500 1,500 0.00 0% 1,500 1,500 0.00 0%
Office Supplies 5,000 5,000 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0%
Postage & Printing 4,000 4,000 0.00 0% 1,000 1,000 0.00 0% 1,000 1,000 0.00 0% 1,000 1,000 0.00 0% 1,000 1,000 0.00 0%
Dues & Subscriptions 5,000 5,000 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0% 1,250 1,250 0.00 0%
Telephone 100,000 100,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0%
Training 100,000 100,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0% 25,000 25,000 0.00 0%
Payroll Tax 40,000 40,000 0.00 0% 10,000 10,000 0.00 0% 10,000 10,000 0.00 0% 10,000 10,000 0.00 0% 10,000 10,000 0.00 0%
Marketing Expenses 0.00
Advertising 1,000,000 1,055,000 55,000.00 6% 250,000 260,000 10,000.00 4% 250,000 270,000 20,000.00 8% 250,000 275,000 25,000.00 10% 250,000 250,000 0.00 0%
Employment Expenses
Superannuation 72,000 72,000 0.00 0% 18,000 18,000 0.00 0% 18,000 18,000 0.00 0% 18,000 18,000 0.00 0% 18,000 18,000 0.00 0%
Wages & Salaries 800,000 800,000 0.00 0% 200,000 200,000 0.00 0% 200,000 200,000 0.00 0% 200,000 200,000 0.00 0% 200,000 200,000 0.00 0%
Staff Amenities 10,000 8,000 (2,000) (20%) 2,500 2,000 (500) (20%) 2,500 2,000 (500) (20%) 2,500 2,000 (500) (20%) 2,500 2,000 (500) (20%)
TOTAL EXPENSES 2,392,000 2,445,000 53,000.00 2% 598,000 607,500 9,500.00 2% 598,000 617,500 19,500.00 3% 598,000 622,500 24,500.00 4% 598,000 597,500 (500) (0%)