I have an accounts excel sheet where you input all your expenses, all your incomes (gst inclusive), and it calculates how you are placed (E.G. -$717.75 for the month).
I It also gives you the gst content to pay $taxableIncome*3)/23 and a rough guide as to how much income tax you should put away $taxableIncome*0.17.
You also tell the program what your hourly rate is.
I am wanting to add to the program to allow it to tell you that you need to work X more hours this month to balance.
This wouldn't be soo hard,
$deficit/$hourlyRate = hours needed to work except for each additional hour worked we need to add ($hourlyRate*3)/23 to the gst expense, and add $hourlyRate*0.17 to the income tax expense.
This is the part I don't quite get how to work out.
So given an hourly rate of $21.00+gst = $24.15/h and a deficit of $717.75 how can I work out how many more hours I would need to work?
basically I am wondering how I can do a formula of
0 <= [(x1+x2+x3...)-(y1+y2+y3...)] / z1
Where x1 must increase until the entire formula equals 0, but as x1 increases, so must y1 and y2
x. = Income Source
y. = Expense
z. = Hourly Rate (gst inclusive)
Note that while the excel formula would be useful I am not expecting people to do the work for me, just a generic overview in pseudocode will work.
So, set:
gross new wage incl. gst - new gst - new income tax) =
-(current income - current expense) or -(Y-E)
where -(Y-E) >= 0
gross new wage - (gross new wage * 3/23) - (gross new wage * 0.17) = -(Y-E)
gross new wage * (1 - 3/23 - 0.17) = -(Y-E)
gross new wage = -(Y-E) / (1 - 3/23 - 0.17)
new hours * gross wage rate (incl. gst) = -(Y-E) / (1 - 3/23 - 0.17)
new hours = (-(Y-E) / (1 - 3/23 - 0.17)) / gross wage rate
That works, doesn't it?
Related
Hi all,
I have something that I cannot explain.
Here is an explanation of the table
Weight
Price Increase in %
Old Price
New Price = ( Old Price * Price Increase ) + Old Price
Total Old Price = Old Price * Weight
Total New Price = New Price * Weight
When using SumProduct to calculate the weighted average I get
=SUMPRODUCT(A2:A6,B2:B6)/SUM(A2:A6) = 16.1072%
But a Finance guy told me that was wrong that I needed to calculate it like this
=SUM(F2:F6)/SUM(E2:E6)-1 = 16.2465%
1 - Why is it giving different results
2 - Who is right
Anyone able to shed some light on this would be greatly appreciated !
this is my first post.
Right now, I have a limited set of data ranging from the beginning of this financial year until now. I'm trying to show what a full year's worth of that data would look like.
For example, if the number is at 10, and the data range is from 1/07/2021 - 30/12/2021 (half the year), then the end output should be 20. Or for example, turn a 12 with 3/4 of the year date range to 16 for a full years' worth.
However, my current formula would end up with 15 (10 + "half") rather than (10 + 10)
Right now this is what I have, but I know there's something off on my logic, as the output is smaller than it should be:
D1+((364-(F1-E1))/365)*D1
where E1 is the start date and F1 is the end date, and d1 is the number for that date range
Thanks in advance
endDate - startDate will give you the number of days the data covers.
(endDate - startDate) / 365 will give you what fraction of a year the sample represents.
Let’s say this works out to be 30%, or 0.30.
annualValue * 0.30 = periodValue and therefore we know that periodValue / 0.30 = annualValue.
So there it is, the cell you want the Annual Value in should be:
= periodValue / ( ( endDate - startDate) / 365 )
I will leave it to you to replace each of the three named values in my example to be the correct cell references. I suspect that’s probably:
=D1/((F1-E1)/365) which is the same as (D1*365)/(F1-E1).
The easy way to remember this is that it’s just cross-multiplication.
periodValue / days is proportionate to annualValue / 365. Thus periodValue / days = annualValue / 365. Cross-multiply and you get periodValue * 365 = annualValue * days. Divide both sides by days and you get `annualValue = (periodValue * 365)/days.
Hi I am not sure if this specific question has been asked but I am wondering if anyone can help me with this.
Sale Price
9.98
Fixed
Expenses %
0.35
Fixed
Expenses
3.49
Sale Price * Expenses %
Cost
4.99
Fixed
ROI %
0.40
Dynamic
Adjusted Cost
Result
Basically what we want to achieve is a cost recommendation based off of the ROI %, so as you change the ROI % then the Cost Adjustment should also change to be true if you took Sale Price - Cost - Expense.
Calc for ROI = ( Sale - Expense - Cost) / Sale
In the area where you have Adjusted Cost, where I figure you're trying to calculate what Cost you need for a 40% ROI. I'm assuming your ROI is a manual input.
Cost = [Sale Price] * ( 1 - [ROI] ) - [Expense]
So I am working on a spreadsheet for a Butchery I manage and have run into a problem.
First off back story: We do $20 packs for certain bulk products that have a min/max weight range.
The Goal is to be able to put in this spreadsheet the desired minimum GP% and from that get a maximum weight based off that minimum profit margin.
For example a Beef Steak that Costs $17.50 p/kilo Would be minimum of 680g (at a GP% of 30.30%) and a maximum weight of 790g (at a GP% of 20.50%)
I have been 'googling' all day, and banging my head on my desk (as well as experimenting with different formula's) I am starting to think I may have to resort to programming a macro to perform this but I would prefer to be able to achieve in a formula on the cell that way I can copy-paste easily down the spreadsheet.
If anyone has a solution or can put me on the right track would be Awesome.
I think the formula you are looking for is :
your selling price (=20$) / your mark up on cost
where your mark up is :
your cost per kilo / (1- your margin)
So for 20% expected GP it gives :
= 20 / (17.5 / (1-0.2))
= 20 / 21.875
= 0.914... kilos
Balance is then :
Revenue = 20$
Cost = 0.914 * 17.5 = 16
Margin = 4
Margin % = 20
I need to calculate Projected Premium by Insurance Type.
The formula for calculation is:
Sum(Budget) - Sum(Budget thru current Day) * (1+BudgetVariance) + TotalPremium
BudgetVariance = (Premium - Budget tru current Day) / Budget tru current Day
Basically I got all variables I need (Thanks to Joe), but some of them don't calculate properly:
BudgetMTD =
VAR DaysOfMonth = MAXX(Dates, DAY(EOMONTH(Dates[Date], 0)))
VAR BudgetPerDayForMonth = SUM(BudgetData[Amount]) / DaysOfMonth
VAR DaysInMonthToToday = MAXX(Dates,
IF(Dates[Date] < TODAY(), DAY(Dates[Date]),
IF(Dates[Date] > TODAY(), 0,
DAY(TODAY())
)))
RETURN BudgetPerDayForMonth * DaysInMonthToToday
BudgetMTD should be 25,882,308 but it displays 30,148,763 (which is the total for 12 months).
Also BudgetVarianceMTD displays correctly for each month, but in a card I need it as:
(Premium - Budget tru current Day) / Budget tru current Day
Which is:
28,505,823 - 25,882,308 / 25,882,308 = 0.10136326
just a hint to get from beginning of the year to current day
DATEDIFF(month, '2017/01/01', GETDATE()) AS d