B D E F G r 1 M N D D R S T n V w Year 1 55.000 55,000 Year 55.000 Year 55,000 Years 55.000 Year 55,000 Yuar? 55 000 525 395 (10/0001 110,000 Inc ! (10/0 110,000 (1070) 110,000 ) 110.000 1,100 550 $ 1 Golfo Variance Problem 2 3 New club volume 4 New club price $ 5 New club VMC $ 6 7 Premchub volume 8 Premchubpre $ 9 Premchub VMC 10 21 Dsc dub velime 2 Disc dub price 12 $ 13 Dis du VMC $ 14 75 Sales 16 VMC 17 Fbed Costs 18 Deprawie 12.000 12,000 12.000 00021 120003 12,000 COZI 410 185 $ S $ 19.2950 $ 39,295700 17.445,00 $ 17,445.000 $ 9,200,000 $ 9,200,000 $ 4,200,000 $ 4200000 $ $ $ 19295.00$ 39,295,000 S 99295.00 $ $ 17,445,000 $ 17,445,000 $ 17,445.000 $ 9200.000 $ 9.200,000 $ 9,200,000 $ 4200,000 4,200,000 $ 4200,000 $ HAYVOUS 3350,000 3.399,000 $ 3350,000 5.070,000 $ 5.070,000 $ 5.070,000 $ 19.295,000 $ 17.445,000 $ 9,200,000 $ 4,200,000 $ HASILOCOS 3.390,000 $ 5.070,000 $ 39.295 150 17,445,000 9,200.000 4,200 2.450 5 An1 5 KOLAR 5 S000 EUR $ $ $ 5 5 000AVR S COCOD E $ OCO OBEE 20 Taxes 21 N 3.390,000 $ 5,070,000 $ 3,350.000 5,070,000 $ $ 5,070,000 Le 4200 4.2015 1200/000 1,20KO 200003 1,200 $ 4.2011 $ Deprecatre 24 Capital Expendture S NAC 20 Total Cash Flow $ (29A00/0001 11.400,000 CHU NOVOUS $ S y2/0/000S 9.2000 Sy2000 $ 1,400 DO 9.22,00 S 1007 $ 9.2X100 S 92/000S 3 28 NPVA 10% IRR Perbeck 15,00.653.81 22.46% 3.32 Years 30 32 EE 1 Golico Variance Probim 2 2 Total Budget Yeri 55,000 Actual Year 1 55,000 4 New club volume 5 New club price 6 Nen club VMC $ $ $ $ Buciget Units Price Sle: SM 55,000 $ $225 825 $ 45,375 65,000 $1,100 $ 21,500 112,000 $ 410 $ 45,920 232,000 $ 701 70 162.795 S 825 S 400 Actual Urits Price Sales SM 55,000 $ 925 $ 45,375 60.000 $ 2.000 $ 60,000 120,000 $ 420 $ 50,400 $ $ 235,000 $662.87 155,775 New clubs Premium clubs Dise, Clubs Total 925 395 65,000 60,000 $ 1.100 $ 550 $1,000 $ 65 112.000 120,000 New clubs Premium clubs Disc. Clubs . Total Bucact Units Var Cast VMC SM 55,000 $395 $ 21,725 $ $ 65,000 $ 650 $42.250 112,000 $ 185 $ 20,720 232,000 $365.06 84,695 Actual urits Var Cost VMCSM 55,000 $ 400 $ 22,000 60,000 $ 665 $ 39,900 120,000 $ 190 $ 22,900 $ 235,000$ 360.43 84,700 420 s $ 410 125 S S 190 232,000 235,000 Due To: Volume Rate 8 Prem lub Volume 9 Prem club price 10 Prem club VIMC 11 12 Disc club volume 13 Disc club price 14 Disc club VMC 15 16 Total Units 17 18 19 Lles 20 VMC 21 Grou Profit 22 Fixed Costs 23 Depreciation 24 EBIT 25 Taxes 26 NI 27 28 29 30 31 32 33 $ K Sales Ser Unit $ 157,795,000 100.00% $701.70 $ 84,595,000 52.03% $ 365.05 $ 78,100,000 47.97% $ 335.64 $ 24,200,000 14.87% $ 104,31 $ 23,700,000 14.56 $ 102.15 $ 30,200,000 18.55 $ 130.17 $ 12,080,000 7.42 $ 52.07 $ 18,120,000 11.13* $ 78.10 $ * $ $ 155,775,000 $ $ 84,700,000 $ 71,075,000 $ 24,500,000 $ 23,500,000 $ 23,075,000 $ 9,233,000 $ 13,845,000 K Sales Ser Unit 100.00% $ 662.87 54.37%, $ 360.43 45.63 $ 302.45 15.73% $ 104.25 15.099 $ 100.00 14.81% $ 98.19 5.93% $ 39.28 8.89%. $ 58.91 Sales VMC Grass Profit Fixed Costs Depreciation ERIT Taxes $ $ $ $ $ $ $ $ $ ($ 0004 17,020) 15) 17,025) (3.00) 200 17.125 2,850 14,275) 40% NI B D E F G r 1 M N D D R S T n V w Year 1 55.000 55,000 Year 55.000 Year 55,000 Years 55.000 Year 55,000 Yuar? 55 000 525 395 (10/0001 110,000 Inc ! (10/0 110,000 (1070) 110,000 ) 110.000 1,100 550 $ 1 Golfo Variance Problem 2 3 New club volume 4 New club price $ 5 New club VMC $ 6 7 Premchub volume 8 Premchubpre $ 9 Premchub VMC 10 21 Dsc dub velime 2 Disc dub price 12 $ 13 Dis du VMC $ 14 75 Sales 16 VMC 17 Fbed Costs 18 Deprawie 12.000 12,000 12.000 00021 120003 12,000 COZI 410 185 $ S $ 19.2950 $ 39,295700 17.445,00 $ 17,445.000 $ 9,200,000 $ 9,200,000 $ 4,200,000 $ 4200000 $ $ $ 19295.00$ 39,295,000 S 99295.00 $ $ 17,445,000 $ 17,445,000 $ 17,445.000 $ 9200.000 $ 9.200,000 $ 9,200,000 $ 4200,000 4,200,000 $ 4200,000 $ HAYVOUS 3350,000 3.399,000 $ 3350,000 5.070,000 $ 5.070,000 $ 5.070,000 $ 19.295,000 $ 17.445,000 $ 9,200,000 $ 4,200,000 $ HASILOCOS 3.390,000 $ 5.070,000 $ 39.295 150 17,445,000 9,200.000 4,200 2.450 5 An1 5 KOLAR 5 S000 EUR $ $ $ 5 5 000AVR S COCOD E $ OCO OBEE 20 Taxes 21 N 3.390,000 $ 5,070,000 $ 3,350.000 5,070,000 $ $ 5,070,000 Le 4200 4.2015 1200/000 1,20KO 200003 1,200 $ 4.2011 $ Deprecatre 24 Capital Expendture S NAC 20 Total Cash Flow $ (29A00/0001 11.400,000 CHU NOVOUS $ S y2/0/000S 9.2000 Sy2000 $ 1,400 DO 9.22,00 S 1007 $ 9.2X100 S 92/000S 3 28 NPVA 10% IRR Perbeck 15,00.653.81 22.46% 3.32 Years 30 32 EE 1 Golico Variance Probim 2 2 Total Budget Yeri 55,000 Actual Year 1 55,000 4 New club volume 5 New club price 6 Nen club VMC $ $ $ $ Buciget Units Price Sle: SM 55,000 $ $225 825 $ 45,375 65,000 $1,100 $ 21,500 112,000 $ 410 $ 45,920 232,000 $ 701 70 162.795 S 825 S 400 Actual Urits Price Sales SM 55,000 $ 925 $ 45,375 60.000 $ 2.000 $ 60,000 120,000 $ 420 $ 50,400 $ $ 235,000 $662.87 155,775 New clubs Premium clubs Dise, Clubs Total 925 395 65,000 60,000 $ 1.100 $ 550 $1,000 $ 65 112.000 120,000 New clubs Premium clubs Disc. Clubs . Total Bucact Units Var Cast VMC SM 55,000 $395 $ 21,725 $ $ 65,000 $ 650 $42.250 112,000 $ 185 $ 20,720 232,000 $365.06 84,695 Actual urits Var Cost VMCSM 55,000 $ 400 $ 22,000 60,000 $ 665 $ 39,900 120,000 $ 190 $ 22,900 $ 235,000$ 360.43 84,700 420 s $ 410 125 S S 190 232,000 235,000 Due To: Volume Rate 8 Prem lub Volume 9 Prem club price 10 Prem club VIMC 11 12 Disc club volume 13 Disc club price 14 Disc club VMC 15 16 Total Units 17 18 19 Lles 20 VMC 21 Grou Profit 22 Fixed Costs 23 Depreciation 24 EBIT 25 Taxes 26 NI 27 28 29 30 31 32 33 $ K Sales Ser Unit $ 157,795,000 100.00% $701.70 $ 84,595,000 52.03% $ 365.05 $ 78,100,000 47.97% $ 335.64 $ 24,200,000 14.87% $ 104,31 $ 23,700,000 14.56 $ 102.15 $ 30,200,000 18.55 $ 130.17 $ 12,080,000 7.42 $ 52.07 $ 18,120,000 11.13* $ 78.10 $ * $ $ 155,775,000 $ $ 84,700,000 $ 71,075,000 $ 24,500,000 $ 23,500,000 $ 23,075,000 $ 9,233,000 $ 13,845,000 K Sales Ser Unit 100.00% $ 662.87 54.37%, $ 360.43 45.63 $ 302.45 15.73% $ 104.25 15.099 $ 100.00 14.81% $ 98.19 5.93% $ 39.28 8.89%. $ 58.91 Sales VMC Grass Profit Fixed Costs Depreciation ERIT Taxes $ $ $ $ $ $ $ $ $ ($ 0004 17,020) 15) 17,025) (3.00) 200 17.125 2,850 14,275) 40% NI