2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Unfortunately, not everyone thinks about pricing. Meanwhile, in the modern world, being economically illiterate comes out to be more expensive. Knowledge in the formation of the value of the final product or service is necessary because we all use services and purchase goods. Below is a list of what you need to know about how the final cost of the product is formed, what makes up the cost, profit and how to allocate VAT 18 from the amount.
Cost formation
There are 2 cost calculation methods:
- Full cost is being calculated.
- Calculation is based on production costs.
The difference between them is fundamental. When the full cost is being formed, it includes absolutely all the costs that arise from the moment the product is created until the moment it arrives at the warehouse. The production cost is formed by the costs associated only with the production process.
The calculation takes place using a method called costing. The next step after calculating the cost is the calculationprofit and VAT (can be equal to 0%, 18% and 10%). Next, we will consider how profit is calculated, and how to allocate VAT 18 from the amount.
Profit Generation
Profit is the final goal, the financial result of the entire production process. This is the difference between the cash received for sales and all production costs. In order to secure a certain revenue, the company needs to include it in the selling price.
For example, an enterprise plans to make a profit of 5000 rubles by producing 200 parts at a cost of 30 rubles. What markup should the company add?
First, the cost is calculated: 30 rubles. × 200 pcs.=6000 r. Then the profit is laid in the estimated revenue: 6000 r. + 5000 rub.=11000 r. We consider the price at which the products should "come out" of production: 11,000 rubles. / 200 pcs.=55 R.
This is the easiest way to understand the principle.
VAT in the price: where and why?
Deciphering VAT ("value added tax") can not explain to everyone the meaning inherent in it. It is clear that this is a tax, but for what and why - not always. The price of products, increased by VAT, is called the selling price. The question of how to allocate VAT 18 from the amount is solved simply. By the way, VAT can be included in the amount of not only 18%, but also 10%. It depends on the type of business activity.
How to allocate VAT? The formula if VAT=18% is as follows:
Product purchase cost / 1.180.18.
Accordingly,if value added tax=10%, the formula will change to:
Product purchase cost / 1.100.10.
Thus, a certain percentage is deducted from each sale to the state budget.
A modern person must understand the pricing process, know how to allocate VAT 18 from the amount, and how profit is laid.
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