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Direct and Indirect Costs
Fixed and Variable costs can now be broken down into two more cost types. Direct and Indirect costs classify the costs of parts being manufactured and are critical to calculating shop overhead rates....
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Manufacturing Costs
Manufacturing costs consist of multiple elements which arrive at the full cost. When estimating a product to be manufactured the entire costs are distributed between the following elements. Material...
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Indirect Material Costs
Indirect material costs are those costs that are not directly added into the product. There are many times materials required to manufacturer a part but those materials are not put into the product....
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Direct Labor Costs
Direct labor costs are those costs which are performed during the production of some product. The product can be any type of item from a machined part, computer and vehicle. Labor is required to...
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Material Estimating
Material estimating can be simple to complex depending on the particular job you are estimating. Raw material is a commodity which could include metal sheets, wood, bars, plastic, plates, block of...
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Material Weight
Material Weight In order to estimate the cost of material it is essential that you know the weight of different material gauges and types of material. Below you will find a list of some common...
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Engineering Costs
Engineering costs for many years have basically been included in the standard burden rate of the shop. There are many situations now in this world where manufacturing is very competitive and technical...
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Classification Of Costs – Direct and Indirect Costs
Direct and indirect costs are two more costs which are involved in running a business. Direct costs are those costs directly associated with the manufacturing or production of a product. This...
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Analysis Of Overhead Expenses
Overhead expenses are all the costs not directly associated with the manufacturing of a specific product. Raw material costs and direct labor are two examples which do not fall into the category of...
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Estimating Shearing (Sheet Metal Cutting)
The basic definition of shearing is cutting metal into smaller pieces. If we define shearing as cutting material then not only a shear can do this process but metal scissors, lasers, punch presses,...
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