Key Formulae Flashcards by Abbie Pilkington | Brainscape

Q

How to work out total costs

A

Fixed costs + total variable cost

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Q

How to work out profit

A

Total revenue - total costs

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Q

How to work out net cash flow

A

Receipts - payments (inflows - outflows)

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Q

How to work out closing balance of a cash flow

A

Opening balance + net cash flow

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Q

How to work out the opening balance of a net cash flow

A

Closing balance of previous period

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Q

How to work out the amount in foreign currency

A

Amount in £ x exchange rate

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Q

How to work out the amount in £

A

Amount in foreign currency / exchange rate

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Q

How to work out labour productivity

A

Total outputs / number of workers

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Q

How to work out contribution

A

Selling price - variable cost

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Q

How to work out break even quantity

A

Fixed cost / contribution

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Q

How to work out the margin of safety

A

Actual quantity sold - break even quantity

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Q

How to work out wages

A

Hours worked x hourly rate

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Q

How to work out overtime

A

Hours worked x overtime rate

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Q

How to work out commission

A

100

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Q

How to work out total revenue

A

Price x quantity sold

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