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Unit 3 Key Formulas
| Question | Answer |
|---|---|
| Total Revenue | Selling price x quantity sold |
| Total costs | Fixed costs + total variable costs |
| Profit | Total revenue – total costs |
| Break even output | Fixed Costs/Contribution per unit (SP – VC) |
| Contribution per unit | Selling Price per unit – Variable Cost per unit |
| Variable cost per unit | Total variable costs/ Number of units |
| Margin of safety | Actual output – break even output |
| Total contribution | CPU x quantity of units sold |
| Gross Profit | Sales revenue – cost of goods sold (cost of sales) |
| Costs of good sold | Opening inventory + purchases – closing inventory |
| Operating Profit | Gross Profit – Expenses (overheads) |
| Net current assets | Current assets - Current liabilities |
| Net assets | Non current assets + net current assets – non current liabilities |
| Total equity | Owners/shareholders capital + retained profit - drawings |
| Fixed Costs | Total Costs – Total Variable Costs |
| Total Variable Costs | Total Costs – Fixed Costs |
| Retained Profit (Profit for end of year) | Net Profit – Tax and Interest |
| Net Cash Flow | Total Cash In – Total Cash Out |
| Closing Balance | Net Cash Flow + Opening Balance |
| Selling Price | Total Revenue/Number of Units Sold |
Created by:
durquhart1
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