Search about how technique is efficient Engineered estimate of cost to estimate cost.

Q: Explain the difference between observable and hidden quality costs.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Define opportunity costs and explain why they represent acommon source of error in making cost…

A:

Q: Give me a model How Efficient is the Engineering Estimation Technique for Cost Estimation?

A: At whatever point we build up a product project, principle addresses that emerge to us is the amount…

Q: Explain the implementation issues of the cost estimation methods

A: Cost estimation is the process of determining the probable cost of a product before starting the…

Q: Search about how technique is efficient Analysis at the account level to estimate cost.

A: technique is efficient Analysis at the account level to estimate cost.

Q: Evaluate labour cost as a major project cost.

A: Project Cost: It is an estimation of total funds required to complete a project. The estimation is…

Q: Define initial direct costs.

A: Initial direct cost: A cost that is incurred during the process of initiating the agreement of lease…

Q: How can the activity rates (i.e., cost per activity) for the various activities be used to target…

A: ABC is a costing technique under which the cost of a product is calculated according to the number…

Q: Give detail definition on operational cost and explain in detail how the operational cost is…

A: Introduction:- The following definition of operational cost as follows under:- Operating costs are…

Q: "Standard costing improves the control function" comment

A: Standard costing is one of the technique of accounting.  Standard costing is the method which…

Q: Classify the following cost drivers as structural, executional, or operational.

A: Classification of cost derives: Classification 0f the given cost drivers as structural, executional,…

Q: Define Cost effectiveness.

A: Cost effectiveness refers to the examination of both cost and health outcomes of different course of…

Q: Describe the visual-fit method of cost estimation. What are the main strengths and weaknesses of…

A:

Q: Explain what a sunk cost is, what an opportunity cost is, and how each cost should be handled when…

A: The question is based on the concept of cost analysis.

Q: Which of the following would be an acceptable measure of activity for a material handling activity…

A: For a material handling activity cost pool, number of material moves and weight of materials moved…

Q: Why do engineers need cost data?

A: The question is based on the concept of cost in engineering projects.

Q: Describe the conference method for estimating a cost function. What are two advantages of this…

A: Conference method:

Q: Write cost pool, cost driver, activity cost, budgeting.   What are the assumption of CVP analysis?…

A: Answer:  Write cost pool, cost driver, activity cost, budgeting.   Cost Pool is the sum total of…

Q: Search about how different techniques are efficient to estimate cost. – Engineered estimate of cost…

A: Four regular methodologies are utilized to appraise fixed and variable expenses:   Record…

Q: Discuss the disadvantages of Absorption Costing for cost control and performance evaluation.

A: Absorption Costing: Absorption costing is a method for calculating the full cost or total cost of a…

Q: Explain the relationship between the costs of flexible and committed resources, usage of resources,…

A: Cost accounting system: Cost accounting system of an organization consists of procedures and…

Q: Define cost drivers.

A:

Q: Which type of cost center has a planning focus, and which type has an evaluation focus?

A: Cost Center: It is a department within an organization to which costs can be assigned.

Q: Complete a locational cost–volume analysis graphically and mathematically

A: Locational cost volume analysis is way to find the volume of production at which the company break…

Q: Define Cost recovery method

A: Cost recovery is a method in accounting wherein a business only records the revenue it earns from a…

Q: Define the term accelerated cost recovery system (AC RS)?

A: The AC RS is a method of depreciation. It is used for depreciating the property for tax purposes

Q: Explain the difference between a cost standard and an efficiency standard. Give an example of each.

A: Cost standard: This refers to the cost expected to be incurred for a given level of output.…

Q: Discuss ROPs and to tal costs.

A: Answer: ROP is defined as reorder point. This is the inventory level that is to be maintained at the…

Q: Identify the output and input variables in both the bottom-up and top-down strategies to cost…

A: Bottom ups of the cost estimate are the most accurate cost estimation process wherein every minute…

Q: Describe the key steps of resource assignment and cost assembly via eTakoff and Sage Estimating.

A: Sage Estimating is an ERP tool that gives you the flexibility, speed, and accuracy to generate…

Q: are measures of activities that require the use of resources and thereby cause costs Value Chain…

A: Solution: Cost drivers are measure of activities that requires the use of resources and thereby…

Q: Explain Calculating Total P System Costs?

A: Periodic inventory system also known as P system is a method of stock taking, where stock taking is…

Q: Why is it important to establish appropriate cost pools?

A: Activity cost pools are used in activity based costing which attempts to absorb overheads in a more…

Q: Discuss the Top-to-Bottom and Bottom-to-Top approaches in Cost Estimating. Focus your discussion in…

A: Meaning: Top-to-Bottom approach: Top-to-Bottom approach is also called imposed style cost estimation…

Q: Discuss the techniques that can be applied to obtain relevant and accurate cost estimates.

A: The question is based on the concept of cost estimation, which is one the most important parameter…

Q: Define conversion costs with an example?

A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

Q: Why do we require product, task order, and process cost data?

A: The Answer :

Q: gimzo machine

A: Acquisition cost refers to cost to all the cost for purchasing the asset.

Q: Define research and development and what are its representative cost driver?

A: Cost drivers: It refers to the object or things which affect the costs of a business. For example,…

Q: Describe briefly the importance of Cost-Benefit Analysis in the selection or development of a…

A: Cost-benefit analysis is an approach to estimate the strengths and weaknesses of a system and…

Q: Explain an example how to calculate total costs.

A: Total c osts represents overall costs incurred to produce or procure a product.

Q: Define Replacement cost.

A: Replacement cost is defined as the measure of cash required to change the current resource with a…

Q: Explain the strategic role of cost estimation.

A: Cost estimation: Cost estimation is a technique that assist the management for taking strategic…

Q: Explain the implementation problems in cost estimation.

A: Cost estimation: It is the development of a defined relationship between cost object and cost…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.