Essential Formulas Flashcards
How do you calculate revenue?
Price X quantity
How do you calculate total costs?
Fixed costs + variable costs
How do you calculate the fixed cost?
Total costs DIVIDED by output
How do you calculate variable costs?
Variable costs DIVIDED by output
How do you calculate percentage change?
New - old percentage divided by old X 100
How do you calculate gross profit and what is it?
Money left over after laying all the variable costs
Revenue - variable costs
His do you vacillate new profit and what is it?
The money left over after laying both fixed and variable costs
Revenue-Total costs
How do you calculate breaks even and what is it?
The minimum level of his it that must be sold for revenue to cover total costs
FIXED COSTS DIVIDED BY CONTRIBUTION PER UNIT
How do you calculate margin of safety?
Actually level of output - BE level of output
How do you calculate price elasticity?
Percentage change in demand divided by percentage change in price
How do you calculate labour productivity?
Output per time period DIVIDED by number of employees
How do you calculate the unit cost of labour?
Cost of labour DIVIDED by workers
How do you calculate capacity?
Units DIVIDED BY CU X 100
How do you calculate unit costs?
Total costs DIVIDED by total output
