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| Terms | Calculations |
|---|---|
Value | Value = Quantity × Unit Price |
Target Hours | Budgeted hours to achieve the Target Total Cost Margin %, which is set in the Contract Financial Suite Settings for App Packages dashboard. |
Profit | Billed - (Service Cost + Labor Costs) |
Margin | Profit ÷ Billed |
| Effective Rate | (Billed - Service Cost) ÷ Labor Hours (If the labor hours is < 1, then it is rounded off to 1.) |
| Contribution Rate | Profit ÷ Labor Hours (If the labor hours is < 1, then it is rounded off to 1.) |
| Billed | The sum of [(Actual Quantity × Unit Price) + Service Total] for all invoices within the selected date range |
| Ave. Hourly Labor Rate | The average of the hourly labor rates of all active technicians with a work type tagging |
| Service Costs | Sum of (Actual Quantity × Unit Cost) for all invoices within the selected date range |
| Actual Labor Hours | Total recorded hours for a contract |
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