Equations Flashcards
1
Q
Total costs
A
Variable costs + fixed costs
2
Q
Total Revenue
A
Sales x sales price
3
Q
Profit
A
Revenue - total costs
4
Q
Break even
A
Fixed costs / contribution
5
Q
Contribution
A
Sales price - variable cost per unit
6
Q
Net cash flow
A
Cash inflows - cash outflows
7
Q
Closing balance
A
Opening balance + net cash flow
8
Q
Net profit margin
A
Profit / revenue (x100)
9
Q
ROCE
Return on capital employed
A
Profit / capital x100
10
Q
Budget variance
A
Difference between budget and actual
11
Q
Favourable budget
A
When actual is a better result than budget
12
Q
Adverse budget
A
When actual is a worse result than budget
13
Q
Labour/staff turnover
A
Staff left / average staff (x100)
14
Q
Labour productivity
A
Level of output / staff
15
Q
Staff absenteeism
A
Absent days / time period (x100)
