Based on the previous plan (provided in the materials), work to develop your pla

Based on the previous plan (provided in the materials), work to develop your plan for your Retail store. Calculate the costs for labor and prepare the store layout along with the merchandise plan. Utilize Excel to prepare all calculations and charts inclusive of proper Excel formulas. All work must be professionally presented, typewritten, and use Microsoft Excel as needed.
Procedure: Each student will develop financial elements of their proposed store as outlined below:
-Product: finalize all product offerings by category, determine the following while highlighting 1 item per category (for example: 1 jacket, 1 pant, 1 purse, etc.) in excel: (40 points)
1. Calculate the cost to make the product. Calculate both cost ($) and percentage (%) for Materials, Trim and Labor.
2. Determine the Retail sell price for each product.
calculate mark-up, mark-up % and margin %’s as appropriate.
-Merchandise Cost (COGs)/Stock: determine the stock requirements based upon sales plan for your store. Calculate plans by product category. Cover the following topics in excel: (40 points)
1. Based upon sales plan, floor layout and cost structure, determine initial stock purchase.
2. Calculate Merchandise Cost (COGs) by month and by year. Note: in order to calculate the monthly COGs, you will have to create a purchasing plan where you replenish inventory to cover sales.
-Sales/Operation Costs/Profit: based upon monthly calculations, estimate projected monthly average and annual sales (in excel) including: (55 points)
1. Create average monthly sales and Gross Margin.
2. Calculate the projected Profit by month and by year.
3. Summarize annual total sales, production costs and profit for the entire store.