Page 63 - Budgeting for Managers

46
Monthly
Weekly
Daily
Annual
Daily x 250
Annual/52
Daily
$ ENTER
Annual/250
Annual/12
Weekly x 52
Weekly
$ ENTER
Monthly Budgeting for Managers Annual/12 Monthly x 12
Annual/52
$ ENTER
Annual/250
Annual Annual/250 Annual/52 Annual/12 $ ENTER
Table 3-1. Converter for estimation period (formulas)
Table 3-1 shows how pay for any one period is calculated
for the other three periods, so you can make one in your own
spreadsheet program. In each row, one cell is left blank for
you to enter the number to calculate across periods. That
number is then annualized, that is, multiplied by the appropri-
ate figure to determine pay per year. Then the annual figure is
divided by the appropriate number to give the daily, weekly,
and monthly figures.
Daily Weekly Monthly Annual
Daily $15.00 $72.12 $312.50 $3,750.00
Weekly $20.80 $100.00 $433.33 $5,200.00
Monthly $38.40 $184.62 $800.00 $9,600.00
Annual $48.00 $230.77 $1,000.00 $12,000.00
Table 3-2. Converter for estimation period (example)
Table 3-2 shows sample calculations. For example, $100 a
week is $433.33 per month, not $400—which is what we would
calculate if we figured a month as four weeks—and $800 per
month is only $184.62 per week, not $200.00.
The daily figure used here is based on 250 days per year.
This would be accurate for a company with a five-day work
week that closes 10 days a year for holidays. The number that
you should use will vary depending on the company calendar.
And, if you’re calculating costs per employee, you need to
decide if you want to measure those costs per active workday or