remembering unit 6

potsandclocks

Hi all I am currently having trouble remembering all the different proforma's and calculations for this unit I try and think of rhymes or saying usually has anyone got any tips to help with this , I would be eternally grateful:thumbup:

sarahwilson

I would be interested in any memory aids anyone has on this as well, does anyone know any? If not I shall get to work and make some up!!

columbia

Is this the unit with Contributions and PV Ratios?

If so, I made up a silly saying which began with each formulas starting letter, it was Chloe Buys Pink Biscuits Mum Makes Them (said it was silly but my daughter Chloe loves pink biscuits!!) Then I recorded the formulaes onto my telephone and listened to them over the course of the weekend and I found I had managed to retain the information.

This is what the acronym was for;

C Contribution = Selling Price per Unit-Variable Costs per Unit
B Breakeven in Units = Fixed Costs/Contribution
P PV Ratio = Contribution/Sales Price
B Breakeven In Revenue = Fixed Costs/PV Ratio
M Margin of Safety In Units = Forecast - Breakeven
M Margin of Safety % = Margin of Safety in Units/Forecast x 100
T Target Profit = Fixed Costs + Target Profit/Contribution

As soon as I got to my exam I wrote the CBPBMMT onto a bit of paper and found I could easily remember all of the formulas.

Might not work for everyone, but worked for me!

Hope it helps!!!!

Trace

ps If this was not what you were after and I have got my units mixed up - sorry!!!

sarahwilson

Sounds good to me, I love acronyms like this it makes it sooo much easier for me.:thumbup:

potsandclocks

Thanks for thats its great I knew somebody out there would do the same things as I would do Ta very much :thumbup1: