paper 2 formulas Flashcards

1
Q

total revenue £

A

sales price x quantity

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2
Q

total variable costs £

A

total variable costs + total fixed costs

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3
Q

total costs £

A

total variable costs + total fixed costs

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4
Q

contribution per unit £

A

sales price-variable cost per unit

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5
Q

breakeven output (units)

A

total fixed costs/ contribution per unit

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6
Q

total contribution £

A

contribution per unit x quantity

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7
Q

margin of safety (units)

A

actual output-breakeven output

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8
Q

profit £

A
total revenue - total costs
or
total contribution - total fixed costs 
or
margin of safety x contribution per unit
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9
Q

variance £

A

actual figures-budgeted figures
if budgeted better than actual= favourable
if not= adverse
(opposite of talking about costs)

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10
Q

profit margin %

A

profit/revenue x100

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11
Q

gross profit £

A

revenue- cost of sales

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12
Q

operating profit £

A

revenue-cost of sales and operating expenses
or
gross profit-operating expenses

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13
Q

current ratio (:1)

A

current assets/current liabilities :1

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14
Q

acid test ratio (:1)

A

current assets/current liabilities :1

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15
Q

capacity utilisation %

A

actual output/maximum possible output x100

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