Engineering method of cost estimation, Cost Accounting

Engineering Method of Cost Estimation

This method is based on a detailed study of each operation whereas careful requirement is made for materials, labour and equipment essential to produce a product. It includes identifying the level of input desired of an activity in form of raw material and labour whereas net cost is based upon the cost of all input. This approach is applicable whereas no past data exists. The major setback of the approach is such it needs a complex analysis of all the constituents of an activity and the necessities of an activity in terms of costs detailed into labour, materials, time and overheads.

Posted Date: 2/5/2013 4:07:48 AM | Location : United States







Related Discussions:- Engineering method of cost estimation, Assignment Help, Ask Question on Engineering method of cost estimation, Get Answer, Expert's Help, Engineering method of cost estimation Discussions

Write discussion on Engineering method of cost estimation
Your posts are moderated
Related Questions
Elements of Non - Manufacturing costs Non-Manufacturing costs are costs incurred via all activities such support the production of services and goods. They are selling costs

are exploration costs of a mining company an asset or an expense

MX obtains 80% of the 1 million issued $1 ordinary share capital of FZ on 1 May 2009 for $1,750,000 when FZ's reserved earnings were $920,000. The carrying worth was considered

If fixed costs are $743,122 and variable costs are 69% of sales, what is the break-even point in sales dollars? Select the correct answer. A. $512,754 B. $2,397,168 C. $1,255,876 D

The project (using the tools and techniques given in Chapters 3, 8, 10, 11, and 12 of the textbook) and its subsequent report are based on the complete economic analysis of a compa

Purpose of Cost Estimation In estimating it assists the future expenditure as cost prediction like the expenditure will depend upon the cost of the respective activities a)

what are thereasons for holding inventories

Definitions of manufacturing concepts  Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended:  Materials and supplies used

what is Taylor''s differential piece rate plan

Calculate the range of monthly financing rates for which the schedule of monthly cash flows is profitable: Month Cash Flow, $ -------------------- 0 -10,100 1 +23,000 2 -13,