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The phrase "amount is based on" is correct and usable in written English.
It can be used when explaining that a certain quantity or figure is determined by specific criteria or factors.
Example: "The total amount is based on the number of hours worked and the hourly rate."
Alternatives: "amount depends on" or "amount is determined by".
Exact(27)
The amount is based on length of government service.
Credit amount is based on cruise length and stateroom category.
The amount is based on a formula in Mr. Katz's contract.
The total loan amount is based on the property's appraised value once the repairs are completed.
That amount is based on the assumption that Harvey makes landfall as a Category 3 hurricane.
The amount is based on the need of the wife and children and the ability of the man to pay.
Similar(33)
The amount was based on the amount of shares owned.
That amount was based on his pay at the time of his conviction, without being adjusted for interest or inflation.
A profit sharing plan extended to all employees from the janitor to the CEO and the amount was based on the same percentage of salary.
The variable amount was based on BW, while the constant was the average BW in each parity group (1, 2, 3, 4+).
The amount was based on a per-night price of $546, which, according to the bill, was Mar-a-Lago's "rack rate," the hotel industry term for a standard, non-discounted price.
More suggestions(15)
allocation is based on
contribution is based on
total is based on
tune is based on
magnitude is based on
calculation is based on
requirement is based on
money is based on
payment is based on
volume is based on
value is based on
allowance is based on
allotment is based on
content is based on
reimbursement is based on
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com