job costing is the process of determining the labor and materials cost for each job in a systematic way, and then using this information to create a quote for the customer. job costing or cost accounting can be used in virtually any industry especially service industry to ensure that the product pricing covers actual costs, overhead and provides a profit.
operating costs are incurred by all equipment — unless the equipment has no cost to operate, requires no personnel or space and never wears out. example needed in some cases, equipment may appear to have low or no operating cost because either the cost is not recognized or is being absorbed in whole or part by the cost of something else.
a cost estimate is the approximation of the cost of a program, project, or operation. the cost estimate is the product of the cost estimating process. the cost estimate has a single total value and may have identifiable component values. a problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. a cost .
activity-based costing abc is a costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each. this model assigns more indirect costs into direct costs compared to conventional costing.
scheduling is the process of arranging, controlling and optimizing work and workloads in a production process or manufacturing process. scheduling is used to allocate plant and machinery resources, plan human resources, plan production processes and purchase materials.
direct costs are directly attributable to the object. in construction, the costs of materials, labor, equipment, etc., and all directly involved efforts or expenses for the cost object are direct costs. in manufacturing or other non-construction industries, the portion of operating costs which is directly assignable to a specific product or process is a direct cost. direct costs are those for .
costing - the process of applying appropriate costs to the line items after the take off. rsmeans refers to this as, 'price the quantities.' may also be called pricing. crew – a group of people who execute a construction activity. the crew may also include construction equipment required to execute the work.
computer-aided manufacturing cam also known as computer-aided modeling or computer-aided machining is the use of software to control machine tools and related ones in the manufacturing of work pieces. this is not the only definition for cam, but it is the most common; cam may also refer to the use of a computer to assist in all operations of a manufacturing plant, including planning .
many industrial coating processes involve the application of a thin film of functional material to a substrate, such as paper, fabric, film, foil, or sheet stock. if the substrate starts and ends the process wound up in a roll, the process may be termed 'roll-to-roll' or 'web-based' coating.
chemical engineering index, ce: composed of 4 major components – equipment, construction labor, buildings, and engineering and supervision – the index is employed primary as a process plant construction index, was established using a base period of 1957-1959 as 100. the ce index is updated monthly and it lags in time by about 3 months.
in production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. in business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. in this case, money is the input that is gone in order to acquire the thing. this acquisition cost may be the sum of the cost of production as incurred by the original producer, and furth
chemical plant cost indexes are dimensionless numbers employed to updating capital cost required to erect a chemical plant from a past date to a later time, following changes in the value of money due to inflation and deflation. since, at any given time, the number of chemical plants is insufficient to use in a preliminary or predesign estimate, cost indexes are handy for a series of .
cost accounting is defined as 'a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. it includes methods for recognizing, classifying, allocating, aggregating and reporting such costs and comparing them with standard costs.'
while abc activity-based costing may be able to pinpoint the cost of each activity and resources into the ultimate product, the process could be tedious, costly and subject to errors. as it is a tool for a more accurate way of allocating fixed costs into a product, these fixed costs do not vary according to each month's production volume.
production management. the leather making process is in general restricted to batch processing, but if the surface coating sub-process is added then some continuous processing can be included. the operation flow has to follow the preparatory tanning crusting surface coating sub-process order without deviation, but some of the sub-processes can be omitted to make certain leathers .
environmental full-cost accounting efca is a method of cost accounting that traces direct costs and allocates indirect costs by collecting and presenting information about the possible environmental, social and economical costs and benefits or advantages – in short, about the 'triple bottom line' – for each
material selection is a step in the process of designing any physical object. in the context of product design, the main goal of material selection is to minimize cost while meeting product performance goals. systematic selection of the best material for a given application begins with properties and costs of candidate materials.