Operations Management (FORMULAS)
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17 Terms
Unit Contribution
Price - variable cost
Contribution to fixed costs
Fixed cost/Unit contribution
Total Revenue (TR)
Price x Quantity
Total Cost (TC)
Fixed cost + (Variable cost x Quantity)
Break-even point (BEP)
Total Revenue = Total Cost
Profit or Loss
Total revenue - Total cost
Margin of Safety
Level of Demand - Break-even Quantity
Target Profit Quantity
(Fixed Cost + Target Profit) / (Price - Variable Cost)
Total contribution
Total contribution = Fixed costs/unit contribution
Capacity utilization rate
Actual output / productive capacity x 100
Defect Rate
Defective output / Total Output x 100
Productivity rate
total output / total output
Labour productivity
Total output / number of workers
Capital productivity
Total output / number of capital hours
Operating leverage
(Price - variable cost per unit) x Quantity / [(price - variable cost per unit) x quantity] x 100
Break even point
Fixed costs/ Selling price - Variable cost
Target profit output
(Fixed cost + Target profit)/ Unit contribution
Note 
Flashcards (93)