Formula Library — công thức CMA Part 1 & Part 2

230 công thức CMA, giải thích bằng tiếng Việt: ý nghĩa từng biến, khi nào dùng, ví dụ số và lỗi thường gặp. Miễn phí, không cần đăng nhập.

Khác
33 công thức

Khác (33)

Price Variance (PV)
PV = AQ  (Purchased)  × (AP − SP)\text{PV} \ = \ \text{AQ} \ \,(\text{Purchased})\, \ \times \ (\text{AP} \ − \ \text{SP})
Usage Variance (UV)
UV = SP × (AQ (Used) − SQ (Allowed))\text{UV} \ = \ \text{SP} \ \times \ (\text{AQ} \ (\text{Used}) \ − \ \text{SQ} \ (\text{Allowed}))
Labor Rate Variance (RV)
RV = AH × (AR − SR)\text{RV} \ = \ \text{AH} \ \times \ (\text{AR} \ − \ \text{SR})
Labor Efficiency Variance (EV)
EV = SR × (AH − SH)\text{EV} \ = \ \text{SR} \ \times \ (\text{AH} \ − \ \text{SH})
Variable Overhead Spending Variance
VOH Spending = AH × (AR − SR)\text{VOH} \ Spending \ = \ \text{AH} \ \times \ (\text{AR} \ − \ \text{SR})
Variable Overhead Efficiency Variance
VOH Efficiency = SR × (AH − SH)\text{VOH} \ Efficiency \ = \ \text{SR} \ \times \ (\text{AH} \ − \ \text{SH})
Fixed Overhead Budget (Spending) Variance
FOH Budget Variance = Actual FOH − Budgeted FOH\text{FOH} \ \text{Budget} \ Variance \ = \ \text{Actual} \ \text{FOH} \ − \ Budgeted \ \text{FOH}
Fixed Overhead Volume Variance
FOH Volume Variance = Budgeted FOH − (SR × SH)\text{FOH} \ \text{Volume} \ Variance \ = \ Budgeted \ \text{FOH} \ − \ (\text{SR} \ \times \ \text{SH})
Sales Price Variance (SPV)
SPV = AQ (Sold) × (AP − SP)\text{SPV} \ = \ \text{AQ} \ (\text{Sold}) \ \times \ (\text{AP} \ − \ \text{SP})
Sales Volume Variance (SVV)
SVV = (AQ (Sold) − BQ) × Budgeted CM per unit\text{SVV} \ = \ (\text{AQ} \ (\text{Sold}) \ − \ \text{BQ}) \ \times \ Budgeted \ \text{CM} \ per \ unit
Sales Mix Variance
Sales Mix Variance = ∑ [(Actual Mix \text{Sales} \ \text{Mix} \ Variance \ = \ ∑ \ [(\text{Actual} \ \text{Mix} \ % \ − \ Budgeted \ \text{Mix} \ %) \ \times \ \text{Total} \ \text{Actual} \ \text{Units} \ \times \ Budgeted \ \text{CM} \ per \ unit]
Sales Quantity (Yield) Variance
Yield Variance = (Total Actual Units − Total Budgeted Units) × Budgeted Mix \text{Yield} \ Variance \ = \ (\text{Total} \ \text{Actual} \ \text{Units} \ − \ \text{Total} \ Budgeted \ \text{Units}) \ \times \ Budgeted \ \text{Mix} \ % \ \times \ Budgeted \ \text{CM} \ per \ unit
Contribution Margin (CM)
CM = Sales − Variable Costs\text{CM} \ = \ \text{Sales} \ − \ Variable \ \text{Costs}
Contribution Margin Ratio (CMR)
CMR = CM / Sales\text{CMR} \ = \ \text{CM} \ / \ \text{Sales}
Break-Even Point in Units (BEP)
BEP  (units)  = Fixed Costs / CM per unit\text{BEP} \ \,(\text{units})\, \ = \ \text{Fixed} \ \text{Costs} \ / \ \text{CM} \ per \ unit
Break-Even Point in Sales $
BEP ($) = Fixed Costs / CMR
Margin of Safety (MOS)
MOS = Actual  (or  Budgeted)  Sales − Break−Even Sales\text{MOS} \ = \ \text{Actual} \ \,(\text{or \ Budgeted})\, \ \text{Sales} \ − \ \text{Break}-\text{Even} \ \text{Sales}
Target Profit — Units Required
Required Units = (Fixed Costs + Target Profit) / CM per unitRequired \ \text{Units} \ = \ (\text{Fixed} \ \text{Costs} \ + \ \text{Target} \ \text{Profit}) \ / \ \text{CM} \ per \ unit
Return on Investment (ROI)
ROI = Operating Income / Average Invested Capital\text{ROI} \ = \ Operating \ \text{Income} \ / \ \text{Average} \ Invested \ \text{Capital}
Residual Income (RI)
RI = Operating Income − (Invested Capital × Required Rate of Return)\text{RI} \ = \ Operating \ \text{Income} \ − \ (Invested \ \text{Capital} \ \times \ Required \ \text{Rate} \ of \ \text{Return})
Economic Value Added (EVA)
EVA = NOPAT − (Invested Capital × WACC)\text{EVA} \ = \ \text{NOPAT} \ − \ (Invested \ \text{Capital} \ \times \ \text{WACC})
Asset Turnover
Asset Turnover = Sales / Average Total Assets\text{Asset} \ Turnover \ = \ \text{Sales} \ / \ \text{Average} \ \text{Total} \ \text{Assets}
Profit Margin
Profit Margin = Operating Income / Sales\text{Profit} \ \text{Margin} \ = \ Operating \ \text{Income} \ / \ \text{Sales}
Net Present Value (NPV)
NPV = ∑ [ CF t1 + r t ] − Initial Investment\text{NPV} \ = \ ∑ \ [ \ \text{CF} \ \dfrac{t}{1 \ + \ r} \ ^t \ ] \ − \ \text{Initial} \ Investment
Internal Rate of Return (IRR)
IRR laˋ r sao cho NPV = 0\text{IRR} \ là \ r \ sao \ cho \ \text{NPV} \ = \ 0
Payback Period (PP)
Payback = Initial Investment / Annual Net Cash Inflow\text{Payback} \ = \ \text{Initial} \ Investment \ / \ \text{Annual} \ \text{Net} \ \text{Cash} \ \text{Inflow}
Profitability Index (PI)
PI = PV of Future Cash Flows / Initial Investment\text{PI} \ = \ \text{PV} \ of \ \text{Future} \ \text{Cash} \ \text{Flows} \ / \ \text{Initial} \ Investment
Weighted Average Cost of Capital (WACC)
WACC = (E/V) × Re + (D/V) × Rd × (1 − T)\text{WACC} \ = \ (E/V) \ \times \ \text{Re} \ + \ (D/V) \ \times \ \text{Rd} \ \times \ (1 \ − \ T)
Economic Order Quantity (EOQ)
EOQ = √( (2 × D × S) / H )\text{EOQ} \ = \ √( \ (2 \ \times \ D \ \times \ S) \ / \ H \ )
Days Sales Outstanding (DSO)
DSO = (Average Accounts Receivable / Net Credit Sales) × 365\text{DSO} \ = \ (\text{Average} \ Accounts \ Receivable \ / \ \text{Net} \ \text{Credit} \ \text{Sales}) \ \times \ 365
Days Inventory Outstanding (DIO)
DIO = (Average Inventory / COGS) × 365\text{DIO} \ = \ (\text{Average} \ Inventory \ / \ \text{COGS}) \ \times \ 365
Days Payables Outstanding (DPO)
DPO = (Average Accounts Payable / COGS) × 365\text{DPO} \ = \ (\text{Average} \ Accounts \ \text{Payable} \ / \ \text{COGS}) \ \times \ 365
Cash Conversion Cycle (CCC)
CCC = DSO + DIO − DPO\text{CCC} \ = \ \text{DSO} \ + \ \text{DIO} \ − \ \text{DPO}
Part 1
86 công thức

External Financial Report (16)

Accounting equation
Assets = Liabilities + Owners′ equity\text{Assets} \ = \ Liabilities \ + \ \text{Owners}' \ equity
Comprehensive income
Comprehensive income = Net income + Other comprehensive incomeComprehensive \ income \ = \ \text{Net} \ income \ + \ \text{Other} \ comprehensive \ income
Contribution margin
Contribution margin = Sales revenue − Variable costsContribution \ margin \ = \ \text{Sales} \ revenue \ − \ Variable \ costs
Cost model carrying value
Cost model carrying value = Historical cost − Accumulated depreciation − Impairment\text{Cost} \ model \ carrying \ value \ = \ Historical \ cost \ − \ Accumulated \ depreciation \ − \ Impairment
Declining balance depreciation
Declining balance depreciation expense = 2 × (1/n) × (Cost − Accumulated depreciation)Declining \ balance \ depreciation \ expense \ = \ 2 \ \times \ (1/n) \ \times \ (\text{Cost} \ − \ Accumulated \ depreciation)
Impairment loss: Assets held for disposal
Total impairment loss = FV or PV future net cash flows − Net carrying value + Cost of disposal\text{Total} \ impairment \ loss \ = \ \text{FV} \ or \ \text{PV} \ future \ net \ cash \ flows \ − \ \text{Net} \ carrying \ value \ + \ \text{Cost} \ of \ disposal
Impairment loss: Assets held for use
Impairment loss = FV or PV future net cash flows − Net carrying valueImpairment \ loss \ = \ \text{FV} \ or \ \text{PV} \ future \ net \ cash \ flows \ − \ \text{Net} \ carrying \ value
Income tax expense (benefit)
Total income tax expense or benefit = Current income tax payable or refundable ± Change in the deferred income tax asset or liability\text{Total} \ income \ tax \ expense \ or \ benefit \ = \ \text{Current} \ income \ tax \ payable \ or \ refundable \ \pm \ \text{Change} \ in \ the \ deferred \ income \ tax \ asset \ or \ liability
Price index (for dollar-value LIFO)
Price index = Ending inventory at current year cost / Ending inventory at base year cost\text{Price} \ index \ = \ \text{Ending} \ inventory \ at \ current \ year \ cost \ / \ \text{Ending} \ inventory \ at \ base \ year \ cost
Units-of-production depreciation
Units−of−production depreciation = Rate per unit × Number of units produced; Rate per unit = (Cost − Salvage value) / Estimated units or hours\text{Units}-of-production \ depreciation \ = \ \text{Rate} \ per \ unit \ \times \ \text{Number} \ of \ units \ produced; \ \text{Rate} \ per \ unit \ = \ (\text{Cost} \ − \ \text{Salvage} \ value) \ / \ Estimated \ units \ or \ hours
Retained earnings
Retained earnings = Beginning RE + Net income − Dividends ± Prior period adjustments ± Accounting changes reported retrospectivelyRetained \ earnings \ = \ Beginning \ \text{RE} \ + \ \text{Net} \ income \ − \ Dividends \ \pm \ \text{Prior} \ period \ adjustments \ \pm \ Accounting \ changes \ reported \ retrospectively
Revaluation model carrying value
Revaluation model carrying value = Fair value at revaluation date − Subsequent accumulated depreciation + Subsequent impairmentRevaluation \ model \ carrying \ value \ = \ \text{Fair} \ value \ at \ revaluation \ date \ − \ Subsequent \ accumulated \ depreciation \ + \ Subsequent \ impairment
Straight-line depreciation
Straight−line depreciation = (Cost − Salvage value) / Estimated useful lifeStraight-line \ depreciation \ = \ (\text{Cost} \ − \ \text{Salvage} \ value) \ / \ Estimated \ useful \ life
Sum-of-the-years' digits
Sum−of−the−years′ digits = N × (N + 1) / 2\text{Sum}-of-the-years' \ digits \ = \ N \ \times \ (N \ + \ 1) \ / \ 2
Sum-of-the-years' digits depreciation
Sum−of−the−years′ digits depreciation = (Cost − Salvage value) × (Remaining life of asset / Sum−of−the−years′ digits)\text{Sum}-of-the-years' \ digits \ depreciation \ = \ (\text{Cost} \ − \ \text{Salvage} \ value) \ \times \ (Remaining \ life \ of \ asset \ / \ \text{Sum}-of-the-years' \ digits)
Weighted average cost per unit
Weighted average cost per unit = Cost of goods available for sale during the period / Number of units available during the periodWeighted \ average \ cost \ per \ unit \ = \ \text{Cost} \ of \ goods \ available \ for \ sale \ during \ the \ period \ / \ \text{Number} \ of \ units \ available \ during \ the \ period

Planning, Budgeting and Forecasting (11)

Budgeted production
Budgeted production = Budgeted sales + Desired ending inventory − Beginning inventoryBudgeted \ production \ = \ Budgeted \ sales \ + \ \text{Desired} \ ending \ inventory \ − \ Beginning \ inventory
Cash budget
Ending cash balance = Beginning cash + Cash collections from sales − Cash disbursements for purchases and operating expenses\text{Ending} \ cash \ balance \ = \ Beginning \ cash \ + \ \text{Cash} \ collections \ from \ sales \ − \ \text{Cash} \ disbursements \ for \ purchases \ and \ operating \ expenses
Cost of direct materials to be purchased
Cost of DM to be purchased = Units of DM to be purchased for the period × Cost per unit\text{Cost} \ of \ \text{DM} \ to \ be \ purchased \ = \ \text{Units} \ of \ \text{DM} \ to \ be \ purchased \ for \ the \ period \ \times \ \text{Cost} \ per \ unit
Cost of goods manufactured
COGM = Total manufacturing costs (DM + DL + OH) + Beginning WIP inventory − Ending WIP inventory\text{COGM} \ = \ \text{Total} \ manufacturing \ costs \ (\text{DM} \ + \ \text{DL} \ + \ \text{OH}) \ + \ Beginning \ \text{WIP} \ inventory \ − \ \text{Ending} \ \text{WIP} \ inventory
Cost of goods sold (manufacturer)
COGS = Beginning finished goods + COGM − Ending finished goods\text{COGS} \ = \ Beginning \ finished \ goods \ + \ \text{COGM} \ − \ \text{Ending} \ finished \ goods
Cost of goods sold (retailer)
COGS = Beginning inventory + Purchases − Ending inventory\text{COGS} \ = \ Beginning \ inventory \ + \ Purchases \ − \ \text{Ending} \ inventory
Direct materials usage
Direct materials usage = Beginning inventory at cost + Purchases at cost − Ending inventory at cost\text{Direct} \ materials \ usage \ = \ Beginning \ inventory \ at \ cost \ + \ Purchases \ at \ cost \ − \ \text{Ending} \ inventory \ at \ cost
Regression equation (multiple regression)
y = a + b1 x1 + b2 x2 + ... + bi xiy \ = \ a \ + \ b_1 \ x_1 \ + \ b_2 \ x_2 \ + \ ... \ + \ b_i \ x_i
Regression equation (simple regression)
y = a + B xy \ = \ a \ + \ B \ x
Total wages (direct labor budget)
Total wages = Budgeted production  (units)  × Hours per unit × Hourly wage rate\text{Total} \ wages \ = \ Budgeted \ production \ \,(\text{units})\, \ \times \ \text{Hours} \ per \ unit \ \times \ \text{Hourly} \ wage \ rate
Units of direct materials to be purchased
Units of DM to be purchased = Units needed for production + Desired ending inventory − Beginning inventory\text{Units} \ of \ \text{DM} \ to \ be \ purchased \ = \ \text{Units} \ needed \ for \ production \ + \ \text{Desired} \ ending \ inventory \ − \ Beginning \ inventory

Performance Management (34)

Asset turnover
Asset turnover = Sales / Assets\text{Asset} \ turnover \ = \ \text{Sales} \ / \ \text{Assets}
Contribution margin
Contribution margin = Sales revenue − Variable costsContribution \ margin \ = \ \text{Sales} \ revenue \ − \ Variable \ costs
Direct labor efficiency variance
DL efficiency variance = Standard rate × (Actual hours worked − Standard hours allowed) = SR × (AH − SH)\text{DL} \ efficiency \ variance \ = \ Standard \ rate \ \times \ (\text{Actual} \ hours \ worked \ − \ Standard \ hours \ allowed) \ = \ \text{SR} \ \times \ (\text{AH} \ − \ \text{SH})
Direct labor mix variance
DL mix variance = Sum of total hours worked × (WASRA mix − WASRS mix)\text{DL} \ mix \ variance \ = \ \text{Sum} \ of \ total \ hours \ worked \ \times \ (\text{WASRA} \ mix \ − \ \text{WASRS} \ mix)
Direct labor rate variance
DL rate variance = Actual hours worked × (Actual rate − Standard rate) = AH × (AR − SR)\text{DL} \ rate \ variance \ = \ \text{Actual} \ hours \ worked \ \times \ (\text{Actual} \ rate \ − \ Standard \ rate) \ = \ \text{AH} \ \times \ (\text{AR} \ − \ \text{SR})
Direct labor yield variance
DL yield variance = WASRS mix × (Sum of total hours worked − Sum of total hours allowed)\text{DL} \ yield \ variance \ = \ \text{WASRS} \ mix \ \times \ (\text{Sum} \ of \ total \ hours \ worked \ − \ \text{Sum} \ of \ total \ hours \ allowed)
Direct materials mix variance
DM mix variance = Sum of total quantities of materials used × (WASPA mix − WASPS mix)\text{DM} \ mix \ variance \ = \ \text{Sum} \ of \ total \ quantities \ of \ materials \ used \ \times \ (\text{WASPA} \ mix \ − \ \text{WASPS} \ mix)
Direct materials price variance
DM price variance = Actual quantity purchased × (Actual price − Standard price) = AQ (purchased)  × (AP − SP)\text{DM} \ price \ variance \ = \ \text{Actual} \ quantity \ purchased \ \times \ (\text{Actual} \ price \ − \ Standard \ price) \ = \ \text{AQ}\,(\text{purchased})\, \ \times \ (\text{AP} \ − \ \text{SP})
Direct materials quantity usage variance
DM quantity usage variance = Standard price × (Actual quantity used − Standard quantity allowed) = SP × (AQ (used)  − SQ (allowed) )\text{DM} \ quantity \ usage \ variance \ = \ Standard \ price \ \times \ (\text{Actual} \ quantity \ used \ − \ Standard \ quantity \ allowed) \ = \ \text{SP} \ \times \ (\text{AQ}\,(\text{used})\, \ − \ \text{SQ}\,(\text{allowed})\,)
Direct materials yield variance
DM yield variance = WASPS mix × (Sum of total quantities of materials used − Sum of total quantities of materials allowed)\text{DM} \ yield \ variance \ = \ \text{WASPS} \ mix \ \times \ (\text{Sum} \ of \ total \ quantities \ of \ materials \ used \ − \ \text{Sum} \ of \ total \ quantities \ of \ materials \ allowed)
DuPont ROE
DuPont ROE = Net profit margin × Asset turnover × Financial leverage = (Net income / Sales) × (Sales / Assets) × (Assets / Equity)\text{DuPont} \ \text{ROE} \ = \ \text{Net} \ profit \ margin \ \times \ \text{Asset} \ turnover \ \times \ Financial \ leverage \ = \ (\text{Net} \ income \ / \ \text{Sales}) \ \times \ (\text{Sales} \ / \ \text{Assets}) \ \times \ (\text{Assets} \ / \ \text{Equity})
EBIT margin
EBIT margin = EBIT / Sales\text{EBIT} \ margin \ = \ \text{EBIT} \ / \ \text{Sales}
Extended DuPont ROE
Extended DuPont ROE = Tax burden × Interest burden × EBIT margin × Asset turnover × Financial leverageExtended \ \text{DuPont} \ \text{ROE} \ = \ \text{Tax} \ burden \ \times \ Interest \ burden \ \times \ \text{EBIT} \ margin \ \times \ \text{Asset} \ turnover \ \times \ Financial \ leverage
Financial leverage
Financial leverage = Assets / EquityFinancial \ leverage \ = \ \text{Assets} \ / \ \text{Equity}
Flexible budget overhead variance (three-way)
Flexible budget OH variance = Total OH spending variance + Variable OH efficiency varianceFlexible \ budget \ \text{OH} \ variance \ = \ \text{Total} \ \text{OH} \ spending \ variance \ + \ Variable \ \text{OH} \ efficiency \ variance
Interest burden
Interest burden = Pretax income / EBITInterest \ burden \ = \ \text{Pretax} \ income \ / \ \text{EBIT}
Net profit margin
Net profit margin = Net income / Sales\text{Net} \ profit \ margin \ = \ \text{Net} \ income \ / \ \text{Sales}
Overapplied or underapplied overhead (one-way)
Overapplied or underapplied OH = Total actual OH − Total OH appliedOverapplied \ or \ underapplied \ \text{OH} \ = \ \text{Total} \ actual \ \text{OH} \ − \ \text{Total} \ \text{OH} \ applied
Overapplied or underapplied overhead (two-way)
Overapplied or underapplied OH = Flexible budget OH variance + Production volume varianceOverapplied \ or \ underapplied \ \text{OH} \ = \ Flexible \ budget \ \text{OH} \ variance \ + \ Production \ volume \ variance
Residual income
Residual income = Net income − Required return; Required return = Net book value (Equity) × Hurdle rateResidual \ income \ = \ \text{Net} \ income \ − \ Required \ return; \ Required \ return \ = \ \text{Net} \ book \ value \ (\text{Equity}) \ \times \ \text{Hurdle} \ rate
Return on equity (ROE)
ROE = Net income / Equity\text{ROE} \ = \ \text{Net} \ income \ / \ \text{Equity}
Return on investment (ROI)
ROI = Income / Investment capital = Profit margin × Investment turnover\text{ROI} \ = \ \text{Income} \ / \ Investment \ capital \ = \ \text{Profit} \ margin \ \times \ Investment \ turnover
Sales mix variance
Sales mix variance = (Actual sales mix ratio − Budgeted sales mix ratio) × Total units of all products sold × Budgeted contribution margin per unit\text{Sales} \ mix \ variance \ = \ (\text{Actual} \ sales \ mix \ ratio \ − \ Budgeted \ sales \ mix \ ratio) \ \times \ \text{Total} \ units \ of \ all \ products \ sold \ \times \ Budgeted \ contribution \ margin \ per \ unit
Sales price variance
Sales price variance = Actual quantity sold × (Actual price − Standard price) = AQ (sold)  × (AP − SP)\text{Sales} \ price \ variance \ = \ \text{Actual} \ quantity \ sold \ \times \ (\text{Actual} \ price \ − \ Standard \ price) \ = \ \text{AQ}\,(\text{sold})\, \ \times \ (\text{AP} \ − \ \text{SP})
Sales volume variance
Sales volume variance = Standard price × (Actual quantity − Standard quantity) = SP × (AQ − SQ)\text{Sales} \ volume \ variance \ = \ Standard \ price \ \times \ (\text{Actual} \ quantity \ − \ Standard \ quantity) \ = \ \text{SP} \ \times \ (\text{AQ} \ − \ \text{SQ})
Standard direct labor
Standard DL = Standard rate per labor hour × Standard hours per unit of productionStandard \ \text{DL} \ = \ Standard \ rate \ per \ labor \ hour \ \times \ Standard \ hours \ per \ unit \ of \ production
Standard direct materials
Standard DM = Standard price per unit × Standard quantity of one unit of productionStandard \ \text{DM} \ = \ Standard \ price \ per \ unit \ \times \ Standard \ quantity \ of \ one \ unit \ of \ production
Standard overhead
Standard OH = Standard  (predetermined)  application rate × Standard cost driver per unitStandard \ \text{OH} \ = \ Standard \ \,(\text{predetermined})\, \ application \ rate \ \times \ Standard \ cost \ driver \ per \ unit
Tax burden
Tax burden = Net income / Pretax income\text{Tax} \ burden \ = \ \text{Net} \ income \ / \ \text{Pretax} \ income
Total OH spending variance (four-way)
Total OH spending variance = Variable OH spending variance + Fixed OH spending variance\text{Total} \ \text{OH} \ spending \ variance \ = \ Variable \ \text{OH} \ spending \ variance \ + \ \text{Fixed} \ \text{OH} \ spending \ variance
WASPA mix (Weighted avg std price for actual mix)
WASPA mix = ∑ (Actual quantity × Standard price) / ∑ (Actual quantities)\text{WASPA} \ mix \ = \ \sum \ (\text{Actual} \ quantity \ \times \ Standard \ price) \ / \ \sum \ (\text{Actual} \ quantities)
WASPS mix (Weighted avg std price for standard mix)
WASPS mix = ∑ (Standard quantity × Standard price) / ∑  (Standard  quantities) \text{WASPS} \ mix \ = \ \sum \ (Standard \ quantity \ \times \ Standard \ price) \ / \ \sum \ \,(\text{Standard \ quantities})\,
WASRA mix (Weighted avg std rate for actual mix)
WASRA mix = ∑ (Actual hours × Standard rate) / ∑ (Actual hours)\text{WASRA} \ mix \ = \ \sum \ (\text{Actual} \ hours \ \times \ Standard \ rate) \ / \ \sum \ (\text{Actual} \ hours)
WASRS mix (Weighted avg std rate for standard mix)
WASRS mix = ∑ (Standard hours × Standard rate) / ∑  (Standard  hours) \text{WASRS} \ mix \ = \ \sum \ (Standard \ hours \ \times \ Standard \ rate) \ / \ \sum \ \,(\text{Standard \ hours})\,

Cost Management (25)

Absorption costing equation
Net income = Revenue − COGS − Operating expenses  (fixed  and  variable) \text{Net} \ income \ = \ \text{Revenue} \ − \ \text{COGS} \ − \ Operating \ expenses \ \,(\text{fixed \ and \ variable})\,
Conversion cost
Conversion cost = Direct labor cost + Overhead costsConversion \ cost \ = \ \text{Direct} \ labor \ cost \ + \ Overhead \ costs
Departmental overhead application rate
Departmental OH application rate = Budgeted department overhead costs / Budgeted department cost driverDepartmental \ \text{OH} \ application \ rate \ = \ Budgeted \ department \ overhead \ costs \ / \ Budgeted \ department \ cost \ driver
Equivalent cost per unit (FIFO)
Equivalent cost per unit (FIFO) = Current costs only / Equivalent unitsEquivalent \ cost \ per \ unit \ (\text{FIFO}) \ = \ \text{Current} \ costs \ only \ / \ Equivalent \ units
Equivalent cost per unit (weighted average)
Equivalent cost per unit (WA) = (Beginning costs + Current costs) / Equivalent unitsEquivalent \ cost \ per \ unit \ (\text{WA}) \ = \ (Beginning \ costs \ + \ \text{Current} \ costs) \ / \ Equivalent \ units
Equivalent units (FIFO)
Equivalent units (FIFO) = (Beginning WIP × Equivalent \ units \ (\text{FIFO}) \ = \ (Beginning \ \text{WIP} \ \times \ % \ to \ be \ completed) \ + \ (\text{Units} \ completed \ − \ Beginning \ \text{WIP}) \ + \ (\text{Ending} \ \text{WIP} \ \times \ % \ completed)
Equivalent units (weighted average)
Equivalent units (WA) = Units completed + (Ending WIP × Equivalent \ units \ (\text{WA}) \ = \ \text{Units} \ completed \ + \ (\text{Ending} \ \text{WIP} \ \times \ % \ completed)
Finished goods inventory
Ending FG = Beginning FG + Inventory transferred from WIP − COGS\text{Ending} \ \text{FG} \ = \ Beginning \ \text{FG} \ + \ Inventory \ transferred \ from \ \text{WIP} \ − \ \text{COGS}
Fixed overhead application rate
Fixed OH application rate = Budgeted fixed overhead / Budgeted fixed overhead cost driver\text{Fixed} \ \text{OH} \ application \ rate \ = \ Budgeted \ fixed \ overhead \ / \ Budgeted \ fixed \ overhead \ cost \ driver
High-low method: Total cost
Total cost = Fixed cost + (Variable cost per unit × Number of units)\text{Total} \ cost \ = \ \text{Fixed} \ cost \ + \ (Variable \ cost \ per \ unit \ \times \ \text{Number} \ of \ units)
High-low method: Variable cost per unit
Variable cost per unit = High cost − Low costHigh volume − Low volume Variable \ cost \ per \ unit \ = \ \dfrac{\text{High} \ cost \ − \ \text{Low} \ cost}{\text{High} \ volume \ − \ \text{Low} \ volume} \
Maximum throughput contribution margin
Maximum throughput CM = Unit throughput CM × Maximum number of units set by the constraint activity\text{Maximum} \ throughput \ \text{CM} \ = \ \text{Unit} \ throughput \ \text{CM} \ \times \ \text{Maximum} \ number \ of \ units \ set \ by \ the \ constraint \ activity
Net realizable value (for joint costing)
Net realizable value = Final selling price − Identifiable costs incurred after split−off\text{Net} \ realizable \ value \ = \ \text{Final} \ selling \ price \ − \ Identifiable \ costs \ incurred \ after \ split-off
Overhead application rate (single)
Overhead application rate = Total budgeted overhead costs / Total budgeted cost driverOverhead \ application \ rate \ = \ \text{Total} \ budgeted \ overhead \ costs \ / \ \text{Total} \ budgeted \ cost \ driver
Predetermined overhead rate
Predetermined overhead rate = Total budgeted overhead / Budgeted volumePredetermined \ overhead \ rate \ = \ \text{Total} \ budgeted \ overhead \ / \ Budgeted \ volume
Prime costs
Prime costs = Direct materials cost + Direct labor costs\text{Prime} \ costs \ = \ \text{Direct} \ materials \ cost \ + \ \text{Direct} \ labor \ costs
Raw materials inventory
Ending RM = Beginning RM + Purchases − Raw materials used\text{Ending} \ \text{RM} \ = \ Beginning \ \text{RM} \ + \ Purchases \ − \ \text{Raw} \ materials \ used
Throughput costing: Operating Income
Operating income = Throughput contribution − Operating costsOperating \ income \ = \ Throughput \ contribution \ − \ Operating \ costs
Total throughput contribution margin
Total throughput CM = Sales revenue − Direct materials cost\text{Total} \ throughput \ \text{CM} \ = \ \text{Sales} \ revenue \ − \ \text{Direct} \ materials \ cost
Units completed
Units completed = BWIP + Units started − EWIP\text{Units} \ completed \ = \ \text{BWIP} \ + \ \text{Units} \ started \ − \ \text{EWIP}
Units started and completed
Units started and completed = Units completed − BWIP = Units started − EWIP\text{Units} \ started \ and \ completed \ = \ \text{Units} \ completed \ − \ \text{BWIP} \ = \ \text{Units} \ started \ − \ \text{EWIP}
Unit throughput contribution margin
Unit throughput CM = Unit selling price − Materials Cost\text{Unit} \ throughput \ \text{CM} \ = \ \text{Unit} \ selling \ price \ − \ Materials \ \text{Cost}
Variable (direct) costing equation
Net income = Revenue − Variable costs − Fixed costs\text{Net} \ income \ = \ \text{Revenue} \ − \ Variable \ costs \ − \ \text{Fixed} \ costs
Variable overhead application rate
Variable OH application rate = Budgeted variable overhead / Budgeted variable overhead cost driverVariable \ \text{OH} \ application \ rate \ = \ Budgeted \ variable \ overhead \ / \ Budgeted \ variable \ overhead \ cost \ driver
Work-in-process inventory
Ending WIP = Beginning WIP + Raw materials used + DL and OH used − Inventory transferred to FG\text{Ending} \ \text{WIP} \ = \ Beginning \ \text{WIP} \ + \ \text{Raw} \ materials \ used \ + \ \text{DL} \ and \ \text{OH} \ used \ − \ Inventory \ transferred \ to \ \text{FG}
Part 2
111 công thức

Financial Statement Analysis (46)

Accounts payable turnover
Accounts payable turnover = Credit purchases / Average accounts payableAccounts \ payable \ turnover \ = \ \text{Credit} \ purchases \ / \ \text{Average} \ accounts \ payable
Accounts receivable turnover
Accounts receivable turnover = Credit sales / Average accounts receivableAccounts \ receivable \ turnover \ = \ \text{Credit} \ sales \ / \ \text{Average} \ accounts \ receivable
Annual growth rate
Annual growth rate = (Current year amount − Prior year amount) / Prior year amount × 100\text{Annual} \ growth \ rate \ = \ (\text{Current} \ year \ amount \ − \ \text{Prior} \ year \ amount) \ / \ \text{Prior} \ year \ amount \ \times \ 100
Basic earnings per share
Basic EPS = (Net income − Preferred dividends) / Weighted average common shares outstanding\text{Basic} \ \text{EPS} \ = \ (\text{Net} \ income \ − \ Preferred \ dividends) \ / \ Weighted \ average \ common \ shares \ outstanding
Book value per share
Book value per share = (Total stockholders′ equity − Preferred equity) / Number of common shares outstanding\text{Book} \ value \ per \ share \ = \ (\text{Total} \ stockholders' \ equity \ − \ Preferred \ equity) \ / \ \text{Number} \ of \ common \ shares \ outstanding
Cash cycle
Cash cycle = Operating cycle − Days purchases in accounts payable = Days in inventory + Days sales in AR − Days of payables outstanding\text{Cash} \ cycle \ = \ Operating \ cycle \ − \ \text{Days} \ purchases \ in \ accounts \ payable \ = \ \text{Days} \ in \ inventory \ + \ \text{Days} \ sales \ in \ \text{AR} \ − \ \text{Days} \ of \ payables \ outstanding
Cash flow ratio
Cash flow ratio = Cash flow from operating activities / Current liabilities\text{Cash} \ flow \ ratio \ = \ \text{Cash} \ flow \ from \ operating \ activities \ / \ \text{Current} \ liabilities
Cash flow to fixed-charges ratio
Cash flow to fixed−charges ratio = (Cash flow from operations + Fixed charges + Tax payments) / Fixed charges\text{Cash} \ flow \ to \ fixed-charges \ ratio \ = \ (\text{Cash} \ flow \ from \ operations \ + \ \text{Fixed} \ charges \ + \ \text{Tax} \ payments) \ / \ \text{Fixed} \ charges
Cash ratio
Cash ratio = (Cash + Marketable securities) / Current liabilities\text{Cash} \ ratio \ = \ (\text{Cash} \ + \ Marketable \ securities) \ / \ \text{Current} \ liabilities
Common base-year statements
Common base−year statements = Current year line item amount / Base year line item amount × 100\text{Common} \ base-year \ statements \ = \ \text{Current} \ year \ line \ item \ amount \ / \ \text{Base} \ year \ line \ item \ amount \ \times \ 100
Common-size balance sheet
Common−size balance sheet = Balance sheet line item / Total assets × 100\text{Common}-size \ balance \ sheet \ = \ \text{Balance} \ sheet \ line \ item \ / \ \text{Total} \ assets \ \times \ 100
Common-size income statement
Common−size income statement = Income statement line item / Net sales revenue × 100\text{Common}-size \ income \ statement \ = \ \text{Income} \ statement \ line \ item \ / \ \text{Net} \ sales \ revenue \ \times \ 100
Current ratio
Current ratio = Current assets / Current liabilities\text{Current} \ ratio \ = \ \text{Current} \ assets \ / \ \text{Current} \ liabilities
Days purchases in accounts payables
Days purchases in AP = Average AP / (Purchases / 365) = 365 / Payables turnover\text{Days} \ purchases \ in \ \text{AP} \ = \ \text{Average} \ \text{AP} \ / \ (Purchases \ / \ 365) \ = \ 365 \ / \ Payables \ turnover
Days sales in accounts receivable
Days sales outstanding in AR = Average AR / (Credit sales / 365) = 365 / AR turnover\text{Days} \ sales \ outstanding \ in \ \text{AR} \ = \ \text{Average} \ \text{AR} \ / \ (\text{Credit} \ sales \ / \ 365) \ = \ 365 \ / \ \text{AR} \ turnover
Days sales in inventory
Days sales in inventory = Average inventory / (COGS / 365) = 365 / Inventory turnover\text{Days} \ sales \ in \ inventory \ = \ \text{Average} \ inventory \ / \ (\text{COGS} \ / \ 365) \ = \ 365 \ / \ Inventory \ turnover
Debt-to-equity ratio
Debt−to−equity ratio = Total liabilities / Total equity\text{Debt}-to-equity \ ratio \ = \ \text{Total} \ liabilities \ / \ \text{Total} \ equity
Debt-to-total-assets ratio
Debt−to−total−assets ratio = Total debt / Total assets\text{Debt}-to-total-assets \ ratio \ = \ \text{Total} \ debt \ / \ \text{Total} \ assets
Degree of financial leverage (DFL)
DFL = \text{DFL} \ = \ % \ change \ in \ net \ income \ / \ % \ change \ in \ \text{EBIT} \ = \ \text{EBIT} \ / \ (\text{EBIT} \ − \ Interest)
Degree of operating leverage (DOL)
DOL = \text{DOL} \ = \ % \ change \ in \ \text{EBIT} \ / \ % \ change \ in \ sales \ = \ Contribution \ margin \ / \ \text{EBIT}
Diluted earnings per share
Diluted EPS = (Net income − Preferred dividends) / Diluted weighted average common shares outstanding\text{Diluted} \ \text{EPS} \ = \ (\text{Net} \ income \ − \ Preferred \ dividends) \ / \ \text{Diluted} \ weighted \ average \ common \ shares \ outstanding
Dividend payout ratio
Dividend payout ratio = Common dividend / Earnings available to common shareholdersDividend \ payout \ ratio \ = \ \text{Common} \ dividend \ / \ Earnings \ available \ to \ common \ shareholders
Dividend yield
Dividend yield = Annual dividends per share / Current market price per shareDividend \ yield \ = \ \text{Annual} \ dividends \ per \ share \ / \ \text{Current} \ market \ price \ per \ share
Earnings yield
Earnings yield = Basic EPS / Current market price per common shareEarnings \ yield \ = \ \text{Basic} \ \text{EPS} \ / \ \text{Current} \ market \ price \ per \ common \ share
EBITDA margin percentage
EBITDA margin \text{EBITDA} \ margin \ % \ = \ \text{EBITDA} \ / \ \text{Net} \ sales
Economic profit
Economic profit = Revenue − Explicit costs − Implicit costsEconomic \ profit \ = \ \text{Revenue} \ − \ Explicit \ costs \ − \ Implicit \ costs
Financial leverage ratio
Financial leverage ratio = Total assets / Total equityFinancial \ leverage \ ratio \ = \ \text{Total} \ assets \ / \ \text{Total} \ equity
Fixed asset turnover
Fixed asset turnover = Sales / Average property, plant, and equipment (Net)\text{Fixed} \ asset \ turnover \ = \ \text{Sales} \ / \ \text{Average} \ property, \ plant, \ and \ equipment \ (\text{Net})
Fixed-charge coverage ratio
Fixed−charge coverage ratio = Earnings before fixed charges and taxes / Fixed charges\text{Fixed}-charge \ coverage \ ratio \ = \ Earnings \ before \ fixed \ charges \ and \ taxes \ / \ \text{Fixed} \ charges
Gross margin
Gross margin = Gross profit / Net sales\text{Gross} \ margin \ = \ \text{Gross} \ profit \ / \ \text{Net} \ sales
Inventory turnover
Inventory turnover = COGS / Average inventoryInventory \ turnover \ = \ \text{COGS} \ / \ \text{Average} \ inventory
Long-term debt-to-equity ratio
Long−term debt−to−equity ratio = (Total debt − Current liabilities) / Total equity\text{Long}-term \ debt-to-equity \ ratio \ = \ (\text{Total} \ debt \ − \ \text{Current} \ liabilities) \ / \ \text{Total} \ equity
Market-to-book ratio
Market−to−book ratio = Current stock price / Book value per share\text{Market}-to-book \ ratio \ = \ \text{Current} \ stock \ price \ / \ \text{Book} \ value \ per \ share
Net profit margin percentage
Net profit margin \text{Net} \ profit \ margin \ % \ = \ \text{Net} \ income \ / \ \text{Net} \ sales
Net working capital ratio
Net working capital ratio = Net working capital / Total assets\text{Net} \ working \ capital \ ratio \ = \ \text{Net} \ working \ capital \ / \ \text{Total} \ assets
Operating cycle
Operating cycle = Days sales in AR + Days sales in inventoryOperating \ cycle \ = \ \text{Days} \ sales \ in \ \text{AR} \ + \ \text{Days} \ sales \ in \ inventory
Operating profit margin percentage
Operating profit margin Operating \ profit \ margin \ % \ = \ Operating \ income \ / \ \text{Net} \ sales
Percentage change (line item)
% \ change \ = \ (\text{Current} \ year \ − \ \text{Prior} \ year) \ / \ \text{Prior} \ year \ \times \ 100
Price-earnings ratio
P/E ratio = Market price per share / Earnings per shareP/E \ ratio \ = \ \text{Market} \ price \ per \ share \ / \ Earnings \ per \ share
Quick ratio
Quick ratio = (Cash + Short−term marketable securities + Receivables) / Current liabilities\text{Quick} \ ratio \ = \ (\text{Cash} \ + \ \text{Short}-term \ marketable \ securities \ + \ Receivables) \ / \ \text{Current} \ liabilities
Return on assets (ROA)
ROA = Net income / Average total assets = Net profit margin × Total asset turnover\text{ROA} \ = \ \text{Net} \ income \ / \ \text{Average} \ total \ assets \ = \ \text{Net} \ profit \ margin \ \times \ \text{Total} \ asset \ turnover
Return on equity (ROE)
ROE = Net income / Average equity = ROA × Financial leverage\text{ROE} \ = \ \text{Net} \ income \ / \ \text{Average} \ equity \ = \ \text{ROA} \ \times \ Financial \ leverage
Shareholder return
Shareholder return = (Ending stock price − Beginning stock price + Annual dividends per share) / Beginning stock priceShareholder \ return \ = \ (\text{Ending} \ stock \ price \ − \ Beginning \ stock \ price \ + \ \text{Annual} \ dividends \ per \ share) \ / \ Beginning \ stock \ price
Sustainable growth rate
Sustainable growth rate = (1 − Dividend payout ratio) × ROE = Retention ratio × ROESustainable \ growth \ rate \ = \ (1 \ − \ Dividend \ payout \ ratio) \ \times \ \text{ROE} \ = \ Retention \ ratio \ \times \ \text{ROE}
Times interest earned ratio
Times interest earned = EBIT / Interest expense\text{Times} \ interest \ earned \ = \ \text{EBIT} \ / \ Interest \ expense
Total asset turnover
Total asset turnover = Sales / Average total assets\text{Total} \ asset \ turnover \ = \ \text{Sales} \ / \ \text{Average} \ total \ assets

Corporate Finance (36)

Accounting profit
Accounting profit = Revenue − Explicit costsAccounting \ profit \ = \ \text{Revenue} \ − \ Explicit \ costs
Annual cost (APR) of quick payment discount
APR of quick payment discount = (360 / (Pay period − Discount period)) × (Discount / (100 − Discount \text{APR} \ of \ quick \ payment \ discount \ = \ (360 \ / \ (\text{Pay} \ period \ − \ Discount \ period)) \ \times \ (Discount \ / \ (100 \ − \ Discount \ %))
Annual percentage rate
APR = Effective periodic interest rate × Number of periods in a year\text{APR} \ = \ Effective \ periodic \ interest \ rate \ \times \ \text{Number} \ of \ periods \ in \ a \ year
Annual return
Annual return = (Ending value − Beginning value + Income) / Beginning value\text{Annual} \ return \ = \ (\text{Ending} \ value \ − \ Beginning \ value \ + \ \text{Income}) \ / \ Beginning \ value
Capital asset pricing model (CAPM)
Rce = Rf + β × (Rm − Rf)R_ce \ = \ R_f \ + \ \beta \ \times \ (R_m \ − \ R_f)
Capital return
Capital return = (Ending value − Beginning value) / Beginning value\text{Capital} \ return \ = \ (\text{Ending} \ value \ − \ Beginning \ value) \ / \ Beginning \ value
Constant (Gordon) growth dividend discount model
Pt = D t+1R − G P_t \ = \ D_ \ \dfrac{t+1}{R \ − \ G} \
Conversion premium
Conversion premium = Convertible bond current price − Convertible bond conversion valueConversion \ premium \ = \ Convertible \ bond \ current \ price \ − \ Convertible \ bond \ conversion \ value
Conversion ratio
Conversion ratio = Par value / Conversion priceConversion \ ratio \ = \ \text{Par} \ value \ / \ Conversion \ price
Conversion value
Conversion value = Current stock price × Number of shares issued if bond is convertedConversion \ value \ = \ \text{Current} \ stock \ price \ \times \ \text{Number} \ of \ shares \ issued \ if \ bond \ is \ converted
Cost of preferred stock
Cost of preferred stock = Preferred stock dividends / Net proceeds of preferred stock\text{Cost} \ of \ preferred \ stock \ = \ Preferred \ stock \ dividends \ / \ \text{Net} \ proceeds \ of \ preferred \ stock
Cost of retained earnings
Cost of retained earnings = D1 / P0 + g\text{Cost} \ of \ retained \ earnings \ = \ D_1 \ / \ P_0 \ + \ g
Currency appreciation or depreciation rate
Appreciation or depreciation rate = (End−of−period exchange rate − Beginning−of−period exchange rate) / Beginning−of−period exchange rateAppreciation \ or \ depreciation \ rate \ = \ (\text{End}-of-period \ exchange \ rate \ − \ Beginning-of-period \ exchange \ rate) \ / \ Beginning-of-period \ exchange \ rate
Effective annual interest rate
Effective annual interest rate = (1 + (i / p))p − 1Effective \ annual \ interest \ rate \ = \ (1 \ + \ (i \ / \ p))^p \ − \ 1
Effective interest rate
Effective interest rate = Interest paid / Net proceeds receivedEffective \ interest \ rate \ = \ Interest \ paid \ / \ \text{Net} \ proceeds \ received
Expected return for a portfolio
Rp = W1 R1 + W2 R2 + ... + Wn RnR_p \ = \ W_1 \ R_1 \ + \ W_2 \ R_2 \ + \ ... \ + \ W_n \ R_n
Forward price-earnings ratio
Forward P/E ratio = P0 / E1\text{Forward} \ P/E \ ratio \ = \ P_0 \ / \ E_1
Free cash flow (FCF)
FCF = EBIT × (1 − Tax rate) + Noncash expenses − Increases in working capital − Capital expenditures\text{FCF} \ = \ \text{EBIT} \ \times \ (1 \ − \ \text{Tax} \ rate) \ + \ \text{Noncash} \ expenses \ − \ Increases \ in \ working \ capital \ − \ \text{Capital} \ expenditures
Gordon growth model (using free cash flows)
PV of cash flows  (constantly  growing)  = FCF1 / (R − G)\text{PV} \ of \ cash \ flows \ \,(\text{constantly \ growing})\, \ = \ FCF_1 \ / \ (R \ − \ G)
Income return
Income return = Income / Beginning value\text{Income} \ return \ = \ \text{Income} \ / \ Beginning \ value
Net working capital
Net working capital = Current assets − Current liabilities\text{Net} \ working \ capital \ = \ \text{Current} \ assets \ − \ \text{Current} \ liabilities
Nominal interest rate
Nominal interest rate = Real interest rate + Inflation rate\text{Nominal} \ interest \ rate \ = \ \text{Real} \ interest \ rate \ + \ Inflation \ rate
Present value of a perpetuity
P = D / RP \ = \ D \ / \ R
Present value of an annuity
Annuity PV = C × (1 − 1 / (1 + r)t) / r\text{Annuity} \ \text{PV} \ = \ C \ \times \ (1 \ − \ 1 \ / \ (1 \ + \ r)^t) \ / \ r
Price-to-book ratio
P/B ratio = P0 / B0P/B \ ratio \ = \ P_0 \ / \ B_0
Price-to-sales ratio
P/S ratio = P0 / S1P/S \ ratio \ = \ P_0 \ / \ S_1
Ratio of exchange
Ratio of exchange = Offer price per share / Market price of the acquiring entity\text{Ratio} \ of \ exchange \ = \ \text{Offer} \ price \ per \ share \ / \ \text{Market} \ price \ of \ the \ acquiring \ entity
Real interest rate
Real interest rate = Nominal interest rate − Inflation rate\text{Real} \ interest \ rate \ = \ \text{Nominal} \ interest \ rate \ − \ Inflation \ rate
Reorder point
Reorder point = Safety stock + (Lead time × Sales during lead time)\text{Reorder} \ point \ = \ \text{Safety} \ stock \ + \ (\text{Lead} \ time \ \times \ \text{Sales} \ during \ lead \ time)
Total return
Total return = Capital return + Income return = (Ending value − Beginning value + Income) / Beginning value\text{Total} \ return \ = \ \text{Capital} \ return \ + \ \text{Income} \ return \ = \ (\text{Ending} \ value \ − \ Beginning \ value \ + \ \text{Income}) \ / \ Beginning \ value
Trailing price-earnings ratio
Trailing P/E ratio = P0 / E0Trailing \ P/E \ ratio \ = \ P_0 \ / \ E_0
Two-stage dividend discount model
Stock value = ∑ [D0 (1 + gs)T / (1 + r)T] + [D n+1r − gL ] / (1 + r)n\text{Stock} \ value \ = \ \sum \ [D_0 \ (1 \ + \ g_s)^T \ / \ (1 \ + \ r)^T] \ + \ [D_ \ \dfrac{n+1}{r \ − \ g_L} \ ] \ / \ (1 \ + \ r)^n
Value of equity with price-to-book ratio
P0 = (P0 / B0) × B0P_0 \ = \ (P_0 \ / \ B_0) \ \times \ B_0
Value of equity with price-to-sales ratio
P0 = (P0 / S1) × S1P_0 \ = \ (P_0 \ / \ S_1) \ \times \ S_1
Weighted average cost of capital (WACC)
WACC = (E/V) × Re + (P/V) × Rp + (D/V) × Rd × (1 − T)\text{WACC} \ = \ (E/V) \ \times \ R_e \ + \ (P/V) \ \times \ R_p \ + \ (D/V) \ \times \ R_d \ \times \ (1 \ − \ T)
Weighted average interest rate
Weighted average interest rate = Effective annual interest payments / Debt outstandingWeighted \ average \ interest \ rate \ = \ Effective \ annual \ interest \ payments \ / \ \text{Debt} \ outstanding

Decision Analysis (27)

After-tax benefit (revenue)
After−tax benefit = Pretax benefit × (1 − Tax rate)\text{After}-tax \ benefit \ = \ \text{Pretax} \ benefit \ \times \ (1 \ − \ \text{Tax} \ rate)
After-tax cost
After−tax cost = Pretax cost × (1 − Tax rate)\text{After}-tax \ cost \ = \ \text{Pretax} \ cost \ \times \ (1 \ − \ \text{Tax} \ rate)
After-tax income
After−tax income = Pretax income × (1 − Tax rate)\text{After}-tax \ income \ = \ \text{Pretax} \ income \ \times \ (1 \ − \ \text{Tax} \ rate)
Average fixed cost
Average fixed cost = Total fixed costs / Quantity produced\text{Average} \ fixed \ cost \ = \ \text{Total} \ fixed \ costs \ / \ Quantity \ produced
Average total cost
Average total cost = Total costs / Quantity produced\text{Average} \ total \ cost \ = \ \text{Total} \ costs \ / \ Quantity \ produced
Average variable cost
Average variable cost = Total variable costs / Quantity produced\text{Average} \ variable \ cost \ = \ \text{Total} \ variable \ costs \ / \ Quantity \ produced
Breakeven point (in dollars)
Breakeven point in dollars = Unit price × Breakeven point  (in  units) Breakeven \ point \ in \ dollars \ = \ \text{Unit} \ price \ \times \ Breakeven \ point \ \,(\text{in \ units})\,
Breakeven point (in units)
Breakeven point in units = Total fixed costs / Contribution margin per unitBreakeven \ point \ in \ units \ = \ \text{Total} \ fixed \ costs \ / \ Contribution \ margin \ per \ unit
Contribution margin
Contribution margin = Sales revenue − All variable costs = CM per unit × Number of units soldContribution \ margin \ = \ \text{Sales} \ revenue \ − \ \text{All} \ variable \ costs \ = \ \text{CM} \ per \ unit \ \times \ \text{Number} \ of \ units \ sold
Contribution margin per unit
CM per unit = Selling price per unit − Variable cost per unit\text{CM} \ per \ unit \ = \ \text{Selling} \ price \ per \ unit \ − \ Variable \ cost \ per \ unit
Contribution margin ratio
CM ratio = Total contribution margin / Total revenues = CM per unit / Selling price per unit\text{CM} \ ratio \ = \ \text{Total} \ contribution \ margin \ / \ \text{Total} \ revenues \ = \ \text{CM} \ per \ unit \ / \ \text{Selling} \ price \ per \ unit
Life-cycle cost per unit
Life−cycle cost per unit = Total life−cycle costs / Total number of units expected over the life of the product\text{Life}-cycle \ cost \ per \ unit \ = \ \text{Total} \ life-cycle \ costs \ / \ \text{Total} \ number \ of \ units \ expected \ over \ the \ life \ of \ the \ product
Marginal cost
Marginal cost = Change in total cost / Change in quantity producedMarginal \ cost \ = \ \text{Change} \ in \ total \ cost \ / \ \text{Change} \ in \ quantity \ produced
Marginal revenue
Marginal revenue = Change in total revenues / Change in quantity soldMarginal \ revenue \ = \ \text{Change} \ in \ total \ revenues \ / \ \text{Change} \ in \ quantity \ sold
Margin of safety
Margin of safety  (in  dollars)  = Total sales − Breakeven sales\text{Margin} \ of \ safety \ \,(\text{in \ dollars})\, \ = \ \text{Total} \ sales \ − \ Breakeven \ sales
Margin of safety ratio
Margin of safety ratio = Margin of safety in dollars / Total sales\text{Margin} \ of \ safety \ ratio \ = \ \text{Margin} \ of \ safety \ in \ dollars \ / \ \text{Total} \ sales
Markup price: Percentage of cost
Price = Product cost × (1 + Markup percentage)\text{Price} \ = \ \text{Product} \ cost \ \times \ (1 \ + \ \text{Markup} \ percentage)
Markup price: Percentage of selling price
Price = Product cost / (1 − Markup percentage)\text{Price} \ = \ \text{Product} \ cost \ / \ (1 \ − \ \text{Markup} \ percentage)
Operating income (contribution approach)
Operating income = Contribution margin − All fixed costsOperating \ income \ = \ Contribution \ margin \ − \ \text{All} \ fixed \ costs
Percentage change in price
% \ change \ in \ price \ = \ (\text{New} \ price \ − \ \text{Old} \ price) \ / \ ((\text{New} \ price \ + \ \text{Old} \ price) \ / \ 2)
Percentage change in quantity demanded
% \ change \ in \ quantity \ demanded \ = \ (\text{New} \ quantity \ − \ \text{Old} \ quantity) \ / \ ((\text{New} \ quantity \ + \ \text{Old} \ quantity) \ / \ 2)
Pretax profit
Pretax profit = After−tax income / (1 − Tax rate)\text{Pretax} \ profit \ = \ \text{After}-tax \ income \ / \ (1 \ − \ \text{Tax} \ rate)
Price elasticity of demand
Ep = E_p \ = \ % \ change \ in \ quantity \ demanded \ / \ % \ change \ in \ price
Sales dollars needed to obtain a desired profit
Sales dollars = (Fixed costs + Pretax profit) / Contribution margin ratio\text{Sales} \ dollars \ = \ (\text{Fixed} \ costs \ + \ \text{Pretax} \ profit) \ / \ Contribution \ margin \ ratio
Sales units needed to obtain a desired profit
Sales  (units)  = (Fixed costs + Pretax profit) / CM per unit\text{Sales} \ \,(\text{units})\, \ = \ (\text{Fixed} \ costs \ + \ \text{Pretax} \ profit) \ / \ \text{CM} \ per \ unit
Selling price based on assumed volume
Sales price per unit = (Fixed costs + Variable cost + Pretax profit) / Number of units sold\text{Sales} \ price \ per \ unit \ = \ (\text{Fixed} \ costs \ + \ Variable \ cost \ + \ \text{Pretax} \ profit) \ / \ \text{Number} \ of \ units \ sold
Target cost per unit
Target cost per unit = Target price − Target operating income per unit\text{Target} \ cost \ per \ unit \ = \ \text{Target} \ price \ − \ \text{Target} \ operating \ income \ per \ unit

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