Reference
   Homewyse Lists Calculations




Image

Homewyse Lists Calculations

The "Item" is the most basic unit of work and cost in Homewyse Lists. Customizing a List amounts to changing or customizing the Items in that List. The following explains Item calculations and how to customize these calculations.


Item Values

Each Item has 4 values - displayed in every List from left to right:

Homewyse Lists calculation values
  • Item Quantity This is the amount or size of each Item. The Item quantity is used to calculate all other Item values and is displayed next to the Item name. Each Item in a Homewyse list has its OWN quantity. Each Item quantity can be: calculated from the List Quantity, - or - manually entered by the list owner.
  • Hrs Total number of labor hours required to complete the Item Quantity of work. Note: if a team of 2 or more works on the Item, "Hrs" is the total number of person-hours that must be paid for, not the elapsed time that the team worked.
  • Labor Total labor costs for the Item.
  • Material Total material costs for the Item.

The following explains how each of these values is calculated and modified. For additional information on Lists calculations, see the Homewyse List Calculation Details Video Tutorial.


Calculation details Item Quantity

For any new or modified Item, make sure the Item Quantity is being calculated to your satisfaction. Item quantity can be manually entered, or calculated as a multiple (fraction) of the List input quantity. To set the Item Quantity:

  1. Choose "edit" for the Item
  2. Choose the "Quantity" tab
  3. To set an Item Quantity manually, enter the quantity in the field for User specified quantity followed by "Save"
  4. To have the Item Quantity automatically calculated from the List Quantity, enter the List Quantity multiplier in the field for Automatically calculated quantity followed by "Save" (for example, if you want the Item Quantity to be 50% of the List Quantity, enter 0.5).

Calculation details Item Hours

The number of Item hours is calculated by: dividing the Item Quantity by "Labor production", where Labor production is the number of Items produced per hour:



       Hrs = Item Quantity / Labor production

To set the Labor production:
  1. Choose "edit" for the Item
  2. Choose the "Costs" tab
  3. Enter the desired value in the Labor production field, followed by "Save"

Calculation details Item Labor Cost

Labor cost for an item is calculated by: multiplying Hours (calculated above) by the Labor Wage and by the List Labor Adjustment



       Labor Cost = Hours * Labor wage * Labor adjustment

To edit Labor wage (for a single Item):
  1. Choose "edit" for the Item
  2. Choose the "Costs" tab
  3. Enter the desired value in the Labor wage field

To set the Labor adjustment (NOTE - Use with caution: changes to Labor Adjustment will be applied to ALL Items in the List):

  1. Choose "settings" for the List
  2. Choose the "Markups" tab
  3. Enter the desired percentage change in the Labor adjustment field

Calculation details Item Material Cost

Material cost for an item is calculated by: multiplying the Item Quantity (calculated above) by the Unit Cost and by the List Material Adjustment



       Material Cost = Item Quantity * Unit Cost * Material Adjustment

To set the Unit Cost (for a single Item):
  1. Choose "edit" for the Item
  2. Choose the "Costs" tab
  3. Enter the desired value in the Unit costs field

To edit Material Adjustment (NOTE - Use with caution: changes to Material Adjustment will be applied to ALL Items in the List):

  1. Choose "settings" for the List
  2. Choose the "Markups" tab
  3. Enter the desired percentage change in the Material adjustment field