Question description

You are the manager of
the Paint Department. You receive the income from the Senior Manager with the following
memo to the three department managers attached.Income Statement
Sharp Hardware Store
For the year ended 30 June 2015HardwarePlumbingPaintTotal$$$$Sales858,000462,000227,5001,547,500Lest cost of goods sold399,250215,75068,250683,250Gross Profit458,750246,250159,250864,250Less ExpensesSalaries-Manager30,00030,00030,00030,000Salaries-other225,000120,000140,000485,000Office expenses33,26717,9138,82060,000Telephone15,2198,1954,03627,450Supplies55,00039,60015,400110,000Rent40,00020,00020,00080,000398,486235,708218,256852,450Net Profit(Loss)60,26410,542(59,006)11,800Performance this year is disappointing, particularly the Paint department which has recorded
a loss of nearly $60 000. As a result, to improve performance in the future, a new system is
going to be implemented. A bonus of $5 000 will be paid to one department manager at the end
of next year on the basis of which department records the highest profit. Comment on the new policy from your point of view

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