Formulas To Know Flashcards
1 FTE =
8 hours per day
40 hours per week
2080 hours per year
as purchased =
edible portion =
As purchased x percent yield
percent yield =
define: cost of food sold
the cost of all the goods the company sold over a time period
cost of foods sold =
breakeven point - units needed to sell =
fish call / ((sharks poo) - (very calmly))
breakeven point - money needed to make =
factor pricing method
final cost =
markup factor =
prime cost method
final cost =
popularity index =
scoop sizes
cafeteria turnover =
EOQ =
10 can size and cans per case
3 quarts, 96 fl oz
6 cans per case
top down budget
company sets targets or outputs, and then determines the activities necessary to meet target and cost of carrying out those activities
bottom-up budget
each unit prepare a budget and then it is set to upper management
baseline budget
starts with previous budget and adjusts for current conditions
zero-based budget
determines cost, outlay, and inflows without a baseline budget
- manager has to justify every expense with nothing automatically approched
fixed budget
static budget
nothing about the budget changes from year to year
flexible budget
changes with business activity
incremental budget
uses existing budget numbers as base and adds incremental amounts relative to current budget
assets-to-liabilities ratio
the percentage of assets divided by debt
debt-to-equity ratio
the percentage of assets funded by shareholder’s equity and debt
inventory turnover rate
assess if there is efficient use of assets
profitability ratios
ability to generate excess income relative to sales
solvency ratio
ability to meet long-term debts
liquidity ratio
ability to meet short-term debts
activity ratio
ability to transfer non-cash assets to cash assets
current ratio
current assets by current liabilities
represents an organization’s ability to meet current financial oblivations
gross profit =
revenue - COGS
yearly depreciation =
(cost of equipment - salvage value) / years of usable life
unit price profit =
selling price - food cost
profit =
item profit * unit sold
percent profit contribution =
unit item profit/total profit
(selling price - food cost) / total profit
