Wires

Wires
Types of wire
n n n
n n n
Bare wire Insulated solid wire Insulated stranded wire-Cord Cable Non metallic cables Armored cable (AC) sheathed wire
Stranded wire vs solid wire

n n n n
More flexible than solid wire More kink resistant. More costly Solid wire is rigid and cannot withstand shard bending Uses of stranded wire
Computer mouse Table lamp wire Welding electrode wire A.C line cords for appliance
Armour cables
n
Steel wire armour

provides mechanical protection and cable can withstand higher stresses, Underground and underwater projects. The armouring is normally connected to earth
Armour cables
n
Conductor:
Plain stranded copper
Insulation:
Cross-linked polyethylene (XLPE)
good water resistance excellent electrical properties. Insulation in cables ensures that conductors and other metal substances do not come into contact with each other.
Armour cables
n
Bedding: Polyvinyl chloride (PVC) bedding is used to provide a protective boundary between inner and outer layers of the cable. Armour: Steel wire armour provides mechanical protection,
Armour cables
Sheath: a black PVC sheath holds all components of the cable together and provides additional protection from external stresses.
Sleeve caps
Disadvantage of Armored wires

n n
Difficult to cut and handle Cannot take sharp turns
Which type of cables you use in construction armoured or unarmoured give detail?
Wire color coding

n
n n
Black is always hot so is red /blue /yellow wires are always hot. White/grey are neutral Green used for grounding Two wire system white and black white can be used as live wire but black wire should wrap around white in a visible place
Wire coding
n n
14/3 means 14 is wire gauge size Lower the gauge bigger is diameter of single wire. Term is for single conductor
n n
Most common gauges for solid copper wires is 14, 12 and 10 Aluminum switches are marker CO/ALR Type NM-B denotes that the wire is rated at 90 degree centigrade
Insulation category
T stands for ordinary thermoplastic insulated cables H specify heat resistant wire HH specify wire can operate up to 194 degree Fahrenheit W denotes wire ca be used in dry ,damp , wet condition N specify wire is resistant to gasoline or petrol
Retailing, 3rd Edition, Dunne and Lusch
Copyright 1999 by Harcourt Brace & Company All rights reserved.
Insulation category
n
What is
THHN THW THWN
Insulation category
NM (non metallic cables)
Non metallic cables Contains neutral, power and bare ground wire It is used for only dry conditions Each wire is individually wrapped in plastic insulation and color coded accordingly. No sharp turns Opening should be big enough
Wire Ampacity
n
n n
The amount of current a wire can carry safely and continuously under normal conditions. 10-gauge copper wire is rated to carry upto 30 amp. 14 gauge wire ,15amps etc If a wire is too small it will present a greater than normal resistance to the current following around it, generating excess heat
Service panel
Two aluminum of copper strips called hot buses are individually connected to main supply.
Ground or neutral wire from circuits are connected neutral/ground buses on the side of hot buses
Main breaker
How to install
Installing electrical boxes
Hot Buses
Surge protector or circuit breaker

n
A circuit breaker will shut down a circuit when it detects an intermittent arc of current and shut down the current on circuit beforethe heat genarated by arc casues the fire
Circuit breaker
n
A circuit breaker is meant to protect the wiring only not the appliance Although it takes 15 amp to break a circuit , it takes only0.06 to electrocution someone
Fuse a type of circuit breaker

Element of fuse blows ways when a circuit overload happen and it disconnects the circuit
Fuse type
Types of fuses
Glass fuse
Older homes Replacing a fuse with larger capacity is a fire hazard.
Cartridge fuse
60amp cartridge fuse may be used for old homes Ranges from 30 amps to 100 amps
Types of fuses
n
Type S fuse
Base threading composition To prevent a home owner from installing high amp fuse in a low-amp fuse socket
Time delay fuses

Designed to withstand a Temporary surge in power Without blowing
Fuse and circuit breaker capacities

No fuse & circuit Breaker should Have capacity More than wires Which they protect
n
Calculating Ampacity
n
An overloaded circut is a real danger in any electrical system and can easily lead to a blown fuse or tripped circuit breaker Total amperage load for the circuit should not exceed the breaker or fuse rating. Safe capacity of circuit is only 80 percentage of maximum amp rating Amp=watt/volts
Advantage
n
Gives store manager some responsibility Store manger assured of receiving ordered items Reorders or re-fills are usually filled promptly
Disadvantage
n
Little control over composition of merchandise selection Chance of imbalance in store inventory
Price agreement plans

n
Also called cataloge plan

Central buyer working with vendor and manufacturer will agree on retail price, color, size, style and assortment of staple type of merchandise
Store manager has degree of authority for the composition of his or her stock and place orders directly with vendors
Vendors carry reserve stocks
Price agreement plans
Domestic
Digital printing
Foreign
China, Bangladesh, india
Domestic
Digital printing
Foreign
China, Bangladesh, india
Formulas for the Six-Month Merchandise Budget

All these formulas are found on page 271 in your text
How to Figure . . .
Planned Sales for the Month

(Planned Sales Percentage for the Month ) X (Planned Total Sales) = (Planned Sales for the Month)
15% =
X
75,000
500,000

FEBRUARY MARCH APRIL MAY JUNE JULY TOTAL
1. Planned BOM Stock 2 Planned Sales 3. Planned Retail Reduction 4. Planned EOM Stock 5. Planned Purchases at Retail 6. Planned Purchases at Cost 7. Planned Initial Markup 8. Planned Gross Margin
$225,000
$300,000 $300,000 $250,000 $375,000 $300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 75,000
7,500 300,000 157,500 86,625 70,875 63,375
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750
Next, plans must be made for inventory. . .

n
Inventory requirements are described in terms of BOM and EOM plans Retailer will need to carry more stock than planned sales. How much more depends on how the retailer wishes to turn the inventory The Stock to Sales ratio is commonly used to determine stock levels
How to Figure . . .Planned
BOM Stock for the Month

$225,000 75,000 75,000 7,500 300,000 157,500 86,625 70,875 63,375
$300,000 $300,000 $250,000 $375,000 $300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750
Exhibit
Formulas for the Six-Month 8.2 Merchandise Budget

9. Planned BOM Stock-to-Sales Ratio
3 3
4 15% 10%
3 20% 5%
5 10% 15%
3 25% 5%
---
10.Planned Sales Percentage 15% 11.Planned Retail Reduction Percentage 10%
15% 100% 21.67% 10%
Planned total Sales for the Period Planned total Retail Reduction Percentage for Period Planned Initial Markup Percentage Planned BOM Stock for August
$500,000 10% 45% $250,000


(Planned Sales for the Month ) X (Planned BOM Stock-to-Sales Ratio for the Month) = (Planned BOM Stock for the Month)
75,000 =
225,000

1. Planned BOM Stock 2 Planned Sales 3. Planned Retail Reduction 4. Planned EOM Stock 5. Planned Purchases at Retail 6. Planned Purchases at Cost
225,000 $225,000 $300,000

75,000 7,500 300,000 157,500 86,625 70,875 63,375 75,000 7,500 300,000 82,500 45,375 37,125 29,625
$300,000 $250,000 $375,000 $300,000 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750
7. Planned Initial Markup 8. Planned Gross Margin
Other approaches to calculating inventory levels can also be used...

n
The Basic Stock Method (BSM) -The retailers will always have a base level of inventory regardless of sales There will be a variable amount of inventory that will fluctuate in the same dollar amount as the periods sales are expected to fluctuate This works best in an area with low turnover or erratic sales
The Percentage Variation Method (PVM) is yet another way...

n
Assumes that the percentage fluctuations in monthly stock from averages stock should be half as great as the percentage fluctuations in monthly sales from average sales.
The Weeks of Supply Method (WSM)is used by retailers where inventories are planned on a weekly, not monthly basis, and where sales do not fluctuate substantially
n
The inventory level should be set equal to a predetermined number of weeks of supply, which is directly related to the desired stock turnover rate. Good for departments with turnover of six or more annually
Next the retailers must plan reductions - what are they?

n n n
Markdowns Employee discounts Stock shortages
How to Figure. . .Planned

Retail Reduction for the Month
Formulas for the Six-Month Exhibit 8.2 Merchandise Budget

9. Planned BOM Stock-to-Sales Ratio
4 15% 10%
3 20% 5%
5 10% 15%
3 25% 5%
---
10.Planned Sales Percentage 15% 11.Planned Retail Reduction Percentage
15% 100% 21.67% 10%
10% 10%
$500,000 10% 45% $250,000


$225,000
$300,000 $300,000 $250,000 $375,000 $300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000
7,500 300,000 157,500 86,625 70,875 63,375
75,000
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750

(Planned Sales for the Month ) X (Planned Retail Reduction Percentage for the Month) = (Planned Retail Reduction for the Month)
75,000 =
10%
7,500
EOM Stock BOM Stock

$225,000 75,000 7,500
$300,000 $300,000 $250,000 $375,000 $300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
300,000 300,000
157,500 86,625 70,875 63,375
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750

$225,000 75,000 7,500 300,000 157,500 86,625 70,875 63,375
$300,000 $300,000 300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625 100,000 5,000 250,000 55,00 30,250 24,750 19,750
$250,000 $375,000 $300,000 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750
(Planned BOM Stock for the Following Month )

= (Planned EOM Stock for The Current Month)
300,000
300,000
Next, how much will the retailer purchase over the season?
n
Add: planned sales plus planned retail reductions plus planned EOM inventory minus planned BOM inventory equals planned purchases at retail
How to Figure. . . Planned

Purchases at Retail for the Month

225,000 $225,000 $300,000 $300,000 $250,000 $375,000 $300,000

75,000 75,000 75,000 7,500 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
7,500 7,500
300,000 300,000 300,000 157,500 86,625 70,875 63,375 82,500 45,375 37,125 29,625
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750

(Planned Sales for the Month ) (Planned Retail Reductions for the Month) (Planned EOM Stock for the Month) (Planned BOM Stock for the Month) (Planned Purchases at Retail for the Month) + + =
75,000
+
+ 300,000 =
7,500 225,000
157,500

$225,000 75,000 7,500 300,000
$300,000 $300,000 $250,000 $375,000 $300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
157,500 157,500
86,625 70,875 63,375
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750

How to Figure. . . Planned Purchases at Cost for the Month
LO1
Planned Retail Purchases at Cost for the Month

LO1
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
TOTAL
$225,000 75,000 7,500 300,000
$300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625
$300,000 $250,000 $375,000 $300,000 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
157,500 157,500
86,625 70,875 63,375
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750
Planned Retail Exhibit 8. 2 Purchases at Cost for the Month

LO1
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
TOTAL
9. Planned BOM Stock-to-Sales Ratio 10.Planned Sales Percentage 11.Planned Retail Reduction Percentage
3 15% 10%
4 15% 10%
3 20% 5%
5 10% 15%
3 25% 5%
4 15% 21.67%
--100% 10%
$500,000 10% 45% 45% $250,000
Planned Retail Purchases at Cost for the Month

LO1
(Planned Purchases at Retail for the Month )
X (100% - Planned Initial Markup Percentage)

= (Planned Purchases at Cost for the Month)
157,500
(100 - 45%)
86,625

How to Figure. . . Planned Initial Markup for the Month 1st way...
LO1
LO1
Planned Initial Markup

$225,000 75,000 7,500 300,000 157,500 157,500 86,625 70,875 63,375
$300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625
$300,000 $250,000 $375,000 $300,000 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750
LO1
Exhibit 8. 2Initial Markup Planned

9. Planned BOM Stock-to-Sales Ratio 10.Planned Sales Percentage 11.Planned Retail Reduction Percentage
3 15% 10%
4 15% 10%
3 20% 5%
5 10% 15%
3 25% 5%
4 15% 21.67%
--100% 10%
$500,000 10%
45% 45%
$250,000
LO1

(Planned Purchases at Retail for the Month ) X (Planned Initial Markup Percentage) = (Planned Initial Markup for the Month)
157,500 =
45%
70,875
LO1

$225,000 75,000 7,500 300,000 157,500 86,625
$300,000 $300,000 $250,000 $375,000 $300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
70,875
70,875 63,375
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750

How to Figure. . . Planned Initial Markup for the Month 2nd way...
LO1
LO1

$225,000 75,000 7,500 300,000 157,500 157,500 86,625 86,625 70,875 63,375
$300,000 75,000 7,500 300,000 82,500 45,375 37,125 29,625
$300,000 $250,000 $375,000 $300,000 100,000 5,000 250,000 55,00 30,250 24,750 19,750 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
100,375 30,937.50 22,687.50 316,250 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750
LO1

OR (Planned Purchases at Retail for the Month - (Planned Purchases at Cost for the Month) = (Planned Initial Markup for the Month)
157,500
86,625
70,875

How to Figure. . . Planned Gross Margin for the Month
LO1
Planned Gross Margin for the Month

LO1
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
TOTAL
. Planned BOM Stock Planned Sales
$225,000 75,000
$300,000 75,000 7,500 300,000 82,500
$300,000 $250,000 $375,000 $300,000 100,000 5,000 250,000 55,00 50,000 7,500 375,000 182,500 125,000 6,250 300,000 56,250
---
75,000 $500,000 16,250 250,000 41,250 50,000 --575,000
. Planned Retail Reduction
7,500 7,500
300,000 157,500
. Planned EOM Stock
. Planned Purchases at Retail
70,875
70,875 63,375 37,125 29,625 24,750 19,750 82,125 25,312.50 18,562.50 258,750 74,625 19,062.50 2,312.50 208,750
. Planned Initial Markup
. Planned Gross Margin
Planned Gross Margin for the Month

LO1
(Planned Initial Markup for the Month )
- (Planned Retail Reductions for the Month)

= (Planned Gross Margin for the Month)
70,875 =
63,375
7,500
Retail Accounting Statements

n
Properly prepared financial statements are a must. Why? Merchandise performance Stock levels appropriate? Level of debt too high? Reductions too high? Gross margin adequate?
n n n n n
Three financial statements are most commonly used by retailers

n
n
Income Statement summary of sales and expenses for a given time period Balance Sheet financial condition of a retailers business at a particular point in time, assets and liabilities Statement of cash flow details the source and type of all cash inflows and the use and type of all cash outflows for a given time period
Income Statement
n
Allows retailer to compare results by department, by store etc and identify trends, growth opportunities or problem areas
Basic format: Gross sales - Returns and allowances Net Sales - Cost of goods sold Gross Margin - Operating expenses Operating profit +/- Other income or Expenses Net Profit Before Taxes
Graphic Presentation of the Income Statement

Gross Sales Returns & Allowances Net Sales Cost of Goods Sold
LO2
Gross Margin
Operating Expenses Operating Profit
Balance Sheet
n
n n
Identifies and quantifies all the firms assets and liabilities Assets = Liabilities + Net worth Both sides of a balance statement must balance Asset anything of value owned by the retail firm Liability Any legitimate financial claim against retailers assets Net worth owners equity, total assets less total liability
Graphic Presentation of the Balance Sheet

Current Liabilities Long Term Liabilities Fixed Assets
LO2
Current Assets
Net Worth
Statement of Cash Flow

n
Enables a retailer to determine cash needs of the company Positive cash flow allows for retailers to take advantage of good deals Negative cash flows may spell trouble
Sample Cash Flow Statement
LO3: Exhibit 8.7a
Accounting Inventory Systems

n
The Cost Method A valuation of the inventory based solely on the retailers cost of merchandise including freight. Limitations: difficult to do on daily basis, difficult to cost out sales and difficult to allocate freight charges to unit level The Retail Method A valuation technique that values merchandise at current retail prices which is then converted to cost based on a formula
LO3
Inventory Valuation
1. Accounting
Inventory System 2. Inventory Pricing Systems
LO3
Accounting Inventory System

1. The Cost Method 2. The Retail Method
LO3

Cost Method is an inventory valuation technique that provides a book valuation of inventory based solely on the retailers cost of merchandise including freight.
LO3

Retail Method is an inventory valuation technique that values merchandise at current retail prices, which is then converted to cost based on a formula.
Steps for using the Retail Method of Inventory Valuation

1. Calculation of the cost complement 2. Calculation of reductions from retail value 3. Conversion of the adjusted retail book inventory to cost
LO3
LO3
Inventory Pricing Systems

FIFO stands for first in, first out and values inventory based on the assumption that the oldest merchandise is sold before the more recently purchased merchandise.
LO3
Inventory Pricing Systems

LIFO stands for last in, first out and values inventory based on the assumption that the most recently purchased merchandise is sold first and the oldest merchandise is sold last.

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Wires

Stranded wire vs solid wire

Steel wire armour

Disadvantage of Armored wires

Difficult to cut and handle Cannot take sharp turns

Wire color coding

Retailing, 3rd Edition, Dunne and Lusch

Copyright 1999 by Harcourt Brace & Company All rights reserved.

Installing electrical boxes

Surge protector or circuit breaker

Fuse a type of circuit breaker

Time delay fuses

Fuse and circuit breaker capacities

Price agreement plans

Also called cataloge plan

Vendors carry reserve stocks

Copyright 1999 by Harcourt Brace & Company All rights reserved.

Price agreement plans

Retailing, 3rd Edition, Dunne and Lusch

Copyright 1999 by Harcourt Brace & Company All rights reserved.

Formulas for the Six-Month Merchandise Budget

Formulas for the Six-Month Merchandise Budget

Retailing, 3rd Edition, Dunne and Lusch

Copyright 1999 by Harcourt Brace & Company All rights reserved.

Formulas for the Six-Month Merchandise Budget

75,000 $500,000 16,250 250,000 41,250 50,000 --575,000

Retailing, 3rd Edition, Dunne and Lusch

Copyright 1999 by Harcourt Brace & Company All rights reserved.

Next, plans must be made for inventory. . .

Formulas for the Six-Month Merchandise Budget

How to Figure . . .Planned

BOM Stock for the Month

Formulas for the Six-Month Merchandise Budget

$225,000 75,000 75,000 7,500 300,000 157,500 86,625 70,875 63,375

75,000 $500,000 16,250 250,000 41,250 50,000 --575,000

Retailing, 3rd Edition, Dunne and Lusch

Copyright 1999 by Harcourt Brace & Company All rights reserved.

Formulas for the Six-Month 8.2 Merchandise Budget

9. Planned BOM Stock-to-Sales Ratio

10.Planned Sales Percentage 15% 11.Planned Retail Reduction Percentage 10%

15% 100% 21.67% 10%

$500,000 10% 45% $250,000

Formulas for the Six-Month Merchandise Budget

Formulas for the Six-Month Merchandise Budget

225,000 $225,000 $300,000

75,000 $500,000 16,250 250,000 41,250 50,000 --575,000

7. Planned Initial Markup 8. Planned Gross Margin

Retailing, 3rd Edition, Dunne and Lusch

Copyright 1999 by Harcourt Brace & Company All rights reserved.

Other approaches to calculating inventory levels can also be used...

The Percentage Variation Method (PVM) is yet another way...

Next the retailers must plan reductions - what are they?

Markdowns Employee discounts Stock shortages

Formulas for the Six-Month Merchandise Budget

How to Figure. . .Planned

Formulas for the Six-Month Exhibit 8.2 Merchandise Budget

9. Planned BOM Stock-to-Sales Ratio

10.Planned Sales Percentage 15% 11.Planned Retail Reduction Percentage

15% 100% 21.67% 10%

$500,000 10% 45% $250,000

Formulas for the Six-Month Merchandise Budget

75,000 $500,000 16,250 250,000 41,250 50,000 --575,000

Retailing, 3rd Edition, Dunne and Lusch

Copyright 1999 by Harcourt Brace & Company All rights reserved.