12 May Home Station is a national home improvement chain with mo
Home Station is a national home improvement chain with more than 100 stores throughout the country. The manager of each store receives a salary plus a bonus equal to a percent of the store’s net income for the reporting period. The following net income calculation is on the Denver store manager’s performance report for the recent monthly period.
| Sales | $2,500,000 |
| Cost of goods sold | 800,000 |
| Wages expense | 500,000 |
| Utilities expense | 200,000 |
| Home office expense | 75,000 |
| Net income | $ 925,000 |
| Manager’s bonus (05%) | $ 4,625 |
In previous periods, the bonus had also been 0.5%, but the performance report had not included any charges for the home office expense, which is now assigned to each store as a percent of its sales.
Required:
Assume that you are the national office manager. Write a one-half page memorandum to your store managers explaining why home office expense is in the new performance report.
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