Engineering method of cost estimation, Cost Accounting

Assignment Help:

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.


Related Discussions:- Engineering method of cost estimation

Analysing changes in working capital, By understanding the financial statem...

By understanding the financial statements of a company, one of the first steps considered is the study of the changes in current financial position of the company and the purpose f

Davids net state lottery gains, One month before she died on April 14, 2002...

One month before she died on April 14, 2002, Barbara Gent (Amy's aunt) gave Amy a coin collection. Based on careful records that Barbara kept, the collection had a cost basis of $9

Accounting for labor, weekly working hour 48 , hourly wage rate 15$ , pri...

weekly working hour 48 , hourly wage rate 15$ , price rate per unit 6$ , normal time taken per piece 36 minuets , normal output per week 220 pieces , actual output per week 275 pie

Product costing methods, What are the strengths and weaknesses of the vario...

What are the strengths and weaknesses of the various costing methods and which would you recommend for a manufacturing enterpris? 2000word assay plus appendix

Regression analysis method of cost estimation, Regression Analysis Method o...

Regression Analysis Method of Cost Estimation It includes estimating the cost function by utilizing past data or the dependent and the independent variables. Hence the cost fu

Absorption, Under which inventory costing method could increases or decreas...

Under which inventory costing method could increases or decreases in income from operations be misinterpreted to be the result of operating efficiencies or inefficiencies?

Price and quality aspect of variance, Price and Quality Aspect of Variance ...

Price and Quality Aspect of Variance At this point it is serious to understand that all variance has two aspects, a price aspect and a quantity aspect: these two aspects combi

Calculate the net effective yield, A Government issued a number of index-li...

A Government issued a number of index-linked bonds on 1 June 2000 which were redeemed on 1 June 2002.  Each bond had a nominal coupon rate of 3% per annum, payable half yearly in a

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd