Calculating Costs and Expenses
Calculating Costs and ExpensesYou are working as a floor manager of the men’s department in the Denim Shack. You have purchased items which are invoiced at $58,500, carry a freight charge of $640, and cost $320 from a particular vendor to set out on the sales floor. The vendor has issued the terms of payment at 3.25/10 net 30 and you intend to pay within 10 days to benefit from the 3.25 percent discount.
What will the cost of goods be? Show step-by-step calculations, starting with applying the correct formula to arrive at the answer.
use the file I uploaded as a template.
In addition, categorize various expenses for the Denim Shack into:
Direct and indirect expenses
Controllable and non-controllable expenses
For each expense you list, work to identify at least 5 different expenses for each category and explain why you have decided to include each in a specific category.