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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.
The follow data relates ot year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dir
What are types of relevant costs
Marvin's Motors Company (MMC) manufactures outboard motors for use on small to medium sized boats. MMC produces three models: the Standard, the Deluxe and the Performance. The comp
1) Define Elasticity. If you have a product where elasticity is less than one, what does that mean? Is it good, bad for the firm? 2) Why will firms not shut down as soon as th
The difference among expenses and expenditure. Expense is the outflow from a profit oriented organization whereas expenditure is the outflow from non-profit organization.
Vintage Auto Company manufactures parts to order for antique cars. Vintage Auto makes everything from fenders to engine blocks. Each customer order is treated as a job. Vintage Aut
cost classifications and examples
Example of Process Cost Report Let suppose that the beginning work in progress in a Company in the month of November was 1,000 units that were 100 percent complete in terms of
Sales: $168,042 Variable Costs: $63,987 Total fixed expenses:$ 75,794 Number units sold per year: 6367 1. What is the contribution margin per unit of your product or service? 2.
Reef Office Supplies is interested in estimating the cost involved in hiring new employees. The following information is available regarding the costs of operating the Human Resour
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