MODEL
QUESTION BANK
Diploma in Mechanical Engineering VI Semester
Course title:
ESTIMATION & COSTING
CO1: Understand the concept of estimation and costing and Analyse the concept
of depreciation cost. |
Chapter-I: Introduction to Estimation and costing
1.
Define estimation.
2. List
the functions of an estimator.
3. Define costing.
4. List
the various costing methods
5. What
are the advantages of efficient costing?
6. Define
standard cost. Write the advantages of standard cost.
7. Define
the following terms
a. Depreciation
b. Estimation.
8. Define
obsolescence. List the various methods of calculating depreciation
9. List
the causes of depreciation
10. Name
six methods of calculating depreciation.
11. List
the aims of estimating
12. List
the essential qualities of an estimator.
UNDERSTANDING
10. Explain
the various qualities of estimator
11. Explain
the procedure for carrying out estimation.
12. What
are the sources of errors in estimating
13. Explain
the idleness in industries and list the various form of idleness.
14. Explain
the need of an estimation for industrial project
15. Compare
estimation with costing
16. Explain
the steps involved in estimating procedure.
17. Explain
the Straight line method of calculating depreciation
18. Explain
the Sinking fund method of calculating depreciation
19. Explain
the diminishing balance method for calculating the depreciation
20. Explain
the terms
a. Repair
and maintenance
b. Obsolescence
21. Explain
the aims of estimation
22. Explain
on the various functions of an estimator
23. Compare
man hour rate with machine hour rate
24. Comparison
depreciation with obsolescence
25. Explain
fixed instalment method of depreciation
APPLICATION / EVALUATING
9.
A machine was purchased for Rs 30000/-. The cost of
erection charges was Rs 10000/- , the estimated life of the machine was 20
years. The scrap value at the end of useful life was Rs 8000/-. Determine the
rate of depreciation per year by straight line method. After 10 years the
machine underwent major repairs and the repair cost was Rs 6000/- .What will be
the new rate of depreciation per year?
.
10. The
installation cost was Rs 11950/-. The apparatus has a life expectancy of 20
years with a scrap value of Rs 6000/-. What should be the rate of depreciation
and depreciation fund on 1.1.1990 by reducing balance method?
11. A lathe is
purchased for Rs 80000/-. The assumed life is 10 years and scrap value Rs 8000/-.
If the depreciation is charged by diminishing balance method. Determine the
rate by which the value of lathe is reducing every year and Estimate the
depreciation fund after 2 years.
12. A
machine is purchased for Rs 60000/-. The estimated life of machine is 15 years
and the scrap value is Rs 15000/-. Determine the depreciations per year by
using interest law (Sinking fund) method, if the rate of interest is charged at
5%. Estimate the depreciation at the end of 5
years.
13. An
industrial plant with initial value of Rs. 400000/- has a salvage value of
Rs.50000/- at the end of 25 years, but sold for 260000/- at end of 10years.
What is the profit or loss to the owner, if sinking fund method of depreciation
is adopted? Take interest rate @ 8%.
14. A
machine was purchased for Rs.40000/- the useful life of machine is 15 years. The
scrap value of the machine is Rs.1000/- . after 5 years, the machine was sold
for Rs.24000/-. If depreciation was set aside by sinking fund method, the rate
of interest @ 8%, determine the extra capital needed to purchase the new
machine for Rs.50000/-.
15. The cost of
the machine is Rs. 16000 and its scrap value is Rs.4000/-. Determine the
depreciation by
“sum of the years digits method “charges for the year, if the estimated life of
the machine in 4 years.
16. Determine
the depreciation at the end of each year by the sum of years digits method
(SYD), if the life of the plant is 5 years. The assets of the company are
Rs.360000/- and scrap value is Rs.60000.
REMEMBERING
1.
List out the various elements of cost
2.
Name the various components of cost.
3. List
the various indirect expenses.
UNDERSTANDING
4. Compare
direct expenses with indirect expenses.
5. Comparison
fixed with variable overheads.
6. Explain
the overhead charges.
7. Explain
the following a) personal allowance b) fatigue
allowance
8.
Explain the control on prime cost, control on overheads
and control over indirect materials and tools.
9. Explain
the unit rate method designed for allocation of on cost
10. Explain
each element of cost with suitable examples
11. Explain
each components of cost with suitable examples
12. Illustrate
various elements of cost in determining the price of a product with the help of
a block diagram.
13. Explain
a) Prime cost b) Direct material Cost c) Direct labour cost
14. Explain
the method involved in calculation of direct material cost.
APPLICATION/EVALUATION
1.
The direct material used is Rs 1000/- and the direct
wages are Rs 443/- for the manufacture of certain items. Determine the factory
cost, when the oncost is to be 60% of prime
cost.
2.
A certain articles are manufactured in bathes of 100.
The direct material cost is Rs. 250/- , direct labour cost Is Rs.400/- and
factory overheads is Rs. 290/-. If the selling on cost is 40% of prime cost.
What should be the selling price of each product to obtain a profit of 20% on the selling price?
3. A machine is manufactured by a firm in batches of 100. The direct material cost is Rs 1600/- and direct labour cost is Rs 2000/-. Factory on cost is 30% of the prime cost. Overhead charges are 20% of factory cost. If the management wants to make a profit of 10% on the selling price. Determine the selling price of each machine.
4. A concern produces bolts & nuts of aluminium and estimated cost is given on the basis of a lot of 1000 bolts with nuts, length of bolt with head 10cm and diameter 2cm.
i) Material cost Rs 700
ii) Labour
cost (direct)
a) Cutting
and setting up =Rs 150
b) Milling,
threading, drilling = Rs 160/-
iii) Cost of tools =Rs 100/-
iv) Factory overheads =150%
of total labour cost
v) Office on cost =
30% of factory cost
vi) Selling price =
Rs 2/ piece
Determine whether management is making profit or loss per piece.
5. Estimate the total cost of two products A & B of on cost is 60% of prime cost. The product has Rs 200/- as direct material and Rs 400/- as direct labour cost, While the product B has Rs 300/- as direct labour cost and Rs 300/- as direct material cost.
6.
A lot of 5000 pieces of an item was fabricated and the
following cost were incurred
·
Material cost Rs 1000/-
·
Labour cost Rs 1100/-
·
Cost of tool/etc Rs 125/-
·
Factory oncost 150% labour cost
·
Office oncost 25% of factory cost
·
Selling expenses 20% of oncost production
What should be the profit or loss
if the price of each item is fixed at Rs 1.50
7. A catalogue price of a machine is Rs 6000/- and the discount allowed to the distributors is 20% of the catalogue price. At some stage, it was found that the selling expenses were half the factory cost and material cost, labour cost and the factory overheads were in the ratio of 1:4:2 if the material cost was Rs 400/-. What profit was made by the factory on each machine.
8.
A market price of a machine is Rs 50000/- and the
discount allowed to the distributor is 20% of the material price. Selling
expense cost is ¼ of the factory cost. If the material cost, Labour cost and factory overhead charges are
in the ratio of 2:4:1, What profit is going to be made by the factory on each
machine, if the material cost is Rs 8000/-.
9.
An article can be made either by hand or in large
quantities by mass production. In the farmer case, time taken is 3hrs and
overheads is 25% of labour cost. While in the later case time taken for 10
pieces is 8Hrs, but overheads are 150% of the labour cost, material cost is Rs
15/ piece and labour charges are Rs 8/Hr. Compare the total cost in both the
cases. Which is cheaper?
10. A
factory owner employed 50 workers during the month of march 2000. Whose details
of expenditure are as given below: a) Material cost is Rs 100000/- b) Rate of
wages for each worker is Rs 6/Hr c) Duration of work is 8hrs/day d) No. of
holidays in the month is 6 days and e) Total overhead expenses is Rs 50000/-.
If workers were paid overtime of 200Hrs at the rate of Rs10/Hr. Determine i)
Total cost ii) Man hour rate overheads
11. Estimate
the weight of cast iron used in manufacturing step pulley as show in figure.
Assume density of CI as 7.2 gm/cc.
12. Determine
the weight and cost of material of MS spindle as shown in figure. The density of MS is 7.8 gm/cc and rate is
Rs.15 per Kg.
13. Determine
the number of rivets of dimensions as shown in the figure. Which can be
manufactured from 4 Kg of MS. Assume that there is no wastage of material
density of MS is 8 gm/cc. All dimensions are in cm.
14. Figure
shows a lathe centre. Evaluate the weight and cost of the material which weighs
7.85 gm/cm3. The cost of the material is Rs. 20 per kg.
15.
Estimate the volume of the material required for manufacturing 100 pieces of
shaft shown in figure. The shaft is made-up of MS weights 8 gm/CC and cost is
Rs.60 per kg. Determine the material cost for such shafts.
16. Determine
the weight and cost 200 articles of MS as shown in figure.
Assuming suitable density and the material cost as Rs.12 per Kg.
17. Determine
the material cost of ten gun metal bushes of 15 cm length including flanges at
both the internal dia. Of the bush is 4 cm, external dia is 8 cm and outer dia
of the end flanges is 12 cm. assume density of metal as 8.5 gm/cc and cost of
the material is Rs.200/kg.
18. Determine
the weight of the gear blank of CI as shown in figure. Taking its density as
7.4 gm/cc.
19. Estimate
the material cost of an engine flywheel from the following data:
|
Inside dia of the flywheel rim |
=70 cm |
|
Outside dia of rim |
=100 cm |
|
Width of rim |
=25 cm |
|
Inside dia of hub |
=12 cm |
|
Outside dia of hub |
=24 cm |
|
Length of hub |
=30 cm |
|
Section of arms (elliptical) |
=7 cm X 4 cm |
|
Length of arm |
=23 cm |
|
No. of arms |
=4 |
|
Density of material |
=8 gm/cc |
|
Material cost |
= Rs.25/kg |
|
Neglect tapering of arms . |
|
CO3: Ability to estimate the
various machining operations
REMEMBERING
1.
List the various operations performed in machine shop.
2.
Define cutting speed, feed, depth of cut for lathe operations
3.
Define cutting speed, feed, depth of cut in lathe
UNDERSTANDING
1.
Explain the various operation time to be considered for
estimation of Machining time.
2.
Explain the
Procedure of estimating cost of machined part for Lathe
operations
3.
Explain the Procedure of estimating cost of machined
part for Milling
operations
4.
Explain the Procedure of estimating cost
of machined part
for Cylindrical Grinding operations.
APPLICATION
1.
Estimate the time required to turn 3.5 cm dia bar to
dimension shown in figure. Cutting speed is 15.4
m/min and feed is 1 mm/rev. all cuts are 3.5 mm deep.
2.
(a) How much time will be required to reduce a 42mm bar
to dimension shown in figure. With cutting speed
16.5 m/min and feed is 1 mm/rev. assume all cuts are 2.5 mm deep. (b) How long
will it take to machine a 45o X 3.125 mm chamfer?
3.
Estimate the time required to run a 60mm dia rod to the dimension shown in figure. Taking cutting speed as 20m/min, feed as 1.2 mm. all cuts are 3mm deep. All dimensions
are in mm.
4.
A tapered component is to be manufactured in a lathe by
compound rest method out of a given bar of 60mm dia and 100 mm length. Assume
the following data:
Details of tapered components Major dia =60mm
Minor dia =20mm
Length of taper =100 mm
Cutting speed 75 m/min. hand feed by compound rest =0.05 mm/rev depth of
cut should not exceed 4 mm. Determine the time required for machining. All
dimensions are in mm.
5.
A component shown in figure is
to be knurled on the surface. Estimate the time required for knurling it, if
the cutting speed is 20m/min and feed is 0.03
cm/rev.
6.
Determine the time required for drilling component as shown in the figure. Assume cutting speed as 22 m/min and feed as
0.02 cm/rev. all dimensions are in mm.
7.
Estimate out the time for threading on a 3 m dia
aluminium bar of length of 10cm by single point tool, if 3threads/cm are to be
cut and speed bar is 80rpm. Assume suitable approach over run and no. of cuts.
8.
Determine the time required for cutting two threads/cm
on aluminium bar stock of 3.5 cm diameter and for a length of 10cm. assume
cutting speed as 11m/min. neglecting approach and overtake for the tool.
9.
Estimate the time required for tapping a 2cm dia. Hole
with a 3 mm pitch tap in a MS plate upto a depth of 3cm. assume cutting speed
as 10m/min and return speed of tap as 2 times the cutting speed.
10. Estimate
out the time required for tapping a 2.1 cm dia hole with 2.5 mm pitch tap in a
mild steel plate upto a depth of 3.5cm. assume cutting speed as 11m/min and
also assume that return speed of tap is twice the cutting speed. No. of cuts
required is 6.
11. What
is the feed per tooth of a 32 teeth milling cutter of 40 cm dia , having a
speed of 75 rpm, table feed 30per min. also Estimate the time required to face
mill a CI casting 1.5 m long and 24 cm wide.(take allowances into consideration).
12. Estimate
the time required to face a job 20 cm lomg and 10 cm wide with the help of
milling cutter of 10cm dia, having 8 teeth and revolving at 80 rpm. The feed
per tooth should not exceed 0.125 mm. assume that the width of the cutter is
sufficient to mill the whole of the job at a
time.
13. A
20 X 7.5 cm CI surface is to be faced on milling machine with a cutter having a
diameter of 125 cm and 20 teeth. If the cutting speed and feed are 50m/min and 4.5 cm/min respectively, determine the
milling time, rpm of the cutter and feed per
tooth.
14. A
slot is tobe made on a milling machine with the help of a cutter, revolving at
100 rpm. Finf the time required to prepare the slot in two cuts, if it is 15 cm
deep and 20 cm long with a cutter of 10 cm dia. Assume feed as 0.5 mm/rev.
15. A
slot of length 25 cm and of depth 3.375 cm is to be milled by 12.5 cm diameter
cutter. What is the total table travel to complete the cut? Also Estimate the
time required for milling the slot when the cutter is turning at 191 rpm with
an average feed of 0.0125 cm and having 16 teeth.
16. Estimate
the time required to cut 60 teeth on a gear blank of 50 mm thick, with a feed
of 30 mm/min. take added table travel as 10 mm and setup time as 10 minutes.
17. Estimate
the time taken to prepare a square prism on a milling machine from a round
block 90 mm length and 40 mm dia. Feed 25mm/min. setup and indexing time is 15 minutes.
18. Determine
the time taken for shaping a cast iron block 50 cm long and 30cm wide in a
single cut. Feed is taken to be 0.8 mm/ stroke
and cutting speed 1 m/min.
19. Estimate
the time required for planning a piece of mild steel75 cm long and 30 cm wide
on a planning machine. The cutting speed on the tool is 10 m/min and feed
0.0782 cm/ stroke.
20. A
machine bed is to be planed in two cuts on a planning machine. It takes 10
seconds in forward stroke and 7 seconds in return stroke. Estimate out the time
required to plane the bed of width 40cm. assume the feed as 1mm/stroke.
21. Estimate
the time required for doing rough grinding of a 16cm long steel shaft to reduce
its dia from 4.2 to 4 cm in a grinding wheel of 12 cm face width. Assume
cutting speed as 16.5m/min and depth of cut as
0.25mm.
22. The
top of a cast iron table of size 40 X 9 cm is to be ground by a wheel having 2
cm face width. If the feed is 1/4th of the width of the wheel and
the table moves 9m in one minute. Estimate out the time required for grinding
in two cuts.
23. Estimate
out the machining time to complete the job as shown in figure.
From the basic raw material of 50 mm dia and 100 mm length. Cutting speed for
turning 30 m/min, feed=1mm/rev, depth of cut=2.5mm. cutting speed for thread
cutting=9 m/min. cutting speed for drilling=30m/min and feed for drilling=0.2 mm/rev.
24. Estimate
the time taken to prepare a job according to the dimensions shown in figure. From a bar 3.5 cm dia and 6 cm long. Assume
following data.
Cutting
speed for turning and boring =
20m/min Cutting speed for drilling =30m/min
Feed for turning and boring = 0.2mm/rev
Feed for drilling = 23 mm/rev
Depth of cut not to exceed = 3mm.
25. It
is desired to manufacture 100 bolts/day from MS bar of length 10 cm and
diameter 30 mm. bolt has the following dimensions: dia of shank=1.2cm, dia of
head =20 mm, thickness of head=10mm, lengt of bolt (face to face) = 10 cm.
length of threaded portion = 3cm. assume
i) feed for turning =0.2cm/rev
ii) cutting
speed for turning =20m/min
iii) cutting
speed for threading = 10m/min
iv) depth
of cut = max. of
3mm
v) pitch of threads = 2.5 mm
vi) no.
of cuts required for threading =6
Determine the machining time for 100
bolts if the operator is paid at the rate of Rs.
4.25 per hour.
Estimate the labour charges considering other allowance for fatigue etc as 100%.
CO4: Ability to estimate the
various welding & sheet metal components
UNDERSTANDING
1.
Explain the any five sheet metal operations.
2.
Explain the types of sheet metal joints.
3.
Explain types of welding.
4.
Explain the types of welding costs.
5.
Explain the factors affecting the welding cost.
APPLICATION
Estimation in welding shop
1.
Estimate the time required for making an open tank of
size 50x50x50 cm by gas welding. Size of sheet used is 50x50x0.3 cm welding is
to be done on both sides. Assume fatigue allowance to be 10% and welding speed
outside as 6m/hr and inside 5m/hr.
2.
Estimate the material cost for linear welding of two
flat pieces of MS 45cm x 6 cm x 1 cm size at an angle of 90o by gas
welding on both sides. Neglect edge preparation cost and assume i) cost of oxygen =Rs 10/m3
ii) cost of acetylene =Rs 60/m3
iii)
density of filler metal=7 gms/cc
iv) cost
of filler metal = Rs 12/kg from the table for 10mm thick plates
i) O2
consumption =0.7 m3/hr
ii) C2H2
consumption= 5mm
iii) filler rod dia = 5mm
iv) length
of filler rod required=4.5 m/m of welding v)welding time =
30 min/m of welding
3. Estimate
the welding material cost for making a rectangular frame for a gate of 2m x 1m
from angle iron size 30mm x 30mm x 5mm. assume the following data:
i) oxygen
consumption=0.4 cu.m/hr which is available at Rs. 50/cu.m
ii) acetylene
consumption = 0.4 cu.m/hr which is available at Rs.50/cu.m
iii) welding speed =
4 m/hr
iv) length
of filler rod of dia 2.5mm= 3.4 m/m of welding
v) filler
rod material cost = Rs.13/kg
vi) welding
is to be done on both sides
4.
A cylinder boiler drum 3m x 1m dia is to be made from
1.5 thick MS plates. Both the ends are closed by welding circular plates to the
drum. The cylindrical portion is welded along the longitudinal seam both inside
and outside. Circular plates are welded only on outside. Determine the cost of
electric arc welding using the following data:
i) rate
of welding 2m/hr on inside & 2.5 m/hr outside
ii) length
of electrode required 2m/m of welding
iii) cost
of electrode Rs. 6/- per meter
iv) power
consumption 5 kwh per metre of weld
v) power
charges Rs 2/- per unit
vi) labour
charges Rs 10/hr
vii) overhead
charges 200% of prime cost
viii) discarded
electrodes -5%
ix) fatigue
7 setting up time -5% of welding time
5.
Two 1m long MS plates of 10mm thickness are to be
welded by a lap joint with the help of a 6 mm electrode. Determine the cost of welding
a.
Current used :250
amp
b.
Voltage :
30 V
c.
Welding speed : 10m/hr
d.
Electrode used : 0.4 kg/m of welding
e.
Labour charges Rs 1/
hr
f.
Power charges Rs 0.20/kwh
Cost of electrode Rs 5/kg
6.
A container open on one side (top side) of size
0.5x0.5x1 m height is to be made from 5mm thick plate. Take the density of
plate metal as 8 gms/cc. the joints one to be welded. Estimate the cost of the container from the following data
Cost of plate =Rs. 12 per kg Sheet metal scrap =
5% of the material
Cost
of labour =10%
of material cost Cost of welding material=Rs.30 per metre of weld
7. An
open water tank 1mx1mx2.5m height is to be favricated from MS plates of 2.5cm
thick. Estimate the cost of the tank from the following data.
Density of MS =8gm/sec
Cost of MS plate =Rs. 6/kg
Cost of fabrication =25% of
material cost Cost of welding =Rs. 0.25
per cm length Factory overhead
charges= 30% of prime cost
Sales overheads =20%
of manufacturing cost Profit =25%
of total cost.
8.
A mild steel vessel 1m in dia and 2m in length is to be
fabricated by using MS sheets of 5mm thick by welding on both sides. Sheets are
available in sizes 1mX3m. estimate how many number of sheets required and the
total quantity of the material required. Also Estimate, welding length, length
of electrode, time required for welding for welding and power consumption. Use
following data: density of MS=7.8 g/cc, rate of welding=1.5m/hour. Length of
electrode=1.5m/m of weld, power consumption=4kwh per m of weld. Illustrate
clearly with appropriate sheet layout to support your estimation.
9.
Estimate the cost of metal sheet for preparing a funnel
as show in figure. Assume the wastage of metal
as 10% and cost of sheet as Rs.50/m3.
10. Estimate
the cost of metal sheet for preparing a funnel as shown in figure. Assume the
stage of metal as 10% and cost of the sheet as Rs. 20/m2 . all
dimensions are in mm.
11. A
cylinder drums of size 2.75 m height and 1.5m mean dia are to be fabricated
from sheet of 5mm thickness by grooved seam joint and both the ends should be
closed by sheet with single seam joint. Determine the material cost, if sheet
is available at Rs. 2000/ m2.
CO5: Ability to estimate the
various forging & foundry shop components.
UNDERSTANDING
1.
Explain the Cost terminology associated with forging shop.
2. Explain the procedure of
calculating material cost of a product for forging shop
3. Explain the types of forging.
4. Explain the Procedure for
estimating forging cost.
5.
Explain the forging losses to be considered while estimating.
6. Explain the pattern allowances.
7.
Explain the procedure for calculating material cost of a product for foundry shop.
8.
Explain the procedure for estimating cost of pattern making.
APPLICATION
1.
Prepare a hexagonal bolt 15mm diameter and 25cm length
from a bar stock of 1.8 cm diameter. Determine the length of the bar stock
required and also give the sequence of operations for forging the above bolt.
2.
Estimate the size of stock and weight of material
required to forge 100 MS bolts as shown in figure. The bar stock diameter is 3 cm.
3.
A hexagonal bolt 25mm dia and 200 mm length is to be
forged from a bar stock of 30 mm dia. Determine the length of bar stock
required if the total material loss is 15% of the net weight of the bolt.
Hexagonal bolt head has 20 mm thickness.
4.
Determine the gross weight of the MS bolt if it is produced in a lot of 5000. If steel weighs
7.9 gm/cm3 and the method is upsetting. Also Determine the
length of the bar required. Take spoilage loss as 10% of net weight, loss of
scaling to be allowed as 5% of each component. The bolt is square headed bolt
with head 40 square and height 15 mm, shank dia is 20mm, length 55mm. all
dimensions are in mm.
5.
Determine the length of 10 mm dia rod required to forge
a ring of 50 mm inner dia. A scale loss of 5%.
6.
A square bar of 3cm side and 25 cm length is to be
converted by hand forging into a bar of hexagonal section having each side
equal to 1.5cm. Determine the length of hexagonal bar produced; consider scale
loss to be 7% of the total volume.
7.
Estimate the length and weight of 1 cm dia stock
required to hand forge 200 rivets of dimensions given in figure. Assume density
of material as 8 gm/cc.
8.
It is required to make a key of dimensions given figure. From a rod of 20mm dia. Determine the length
of rod required on forging.
9. 300
pieces of gib headed key shown in figure are to
be drop forged from a 4cm diameter bar.
Determine the cost of material
if
i) material
cost is Rs. 50/- per metre
ii) scale
loss 8%
iii) shear
loss as 3 mm length/piece
10. A
finished drawing of a CI flanged pipe is given in figure.
Your are required to prepare a wooden pattern in the pattern making shop.
Estimate the quantity of wood required for manufacturing the pattern. Also
estimate the cost of pattern if:
a) wood is
available at the rate of rs.2800 lm3
b)
pattern maker is available at the rate of Rs 80/ day
and takes 6 hrs in preparing the pattern
c)
overhead charges are 20% of material cost.
11. Estimate
the cost of 2000 CI pulleys as shown in figure.
Its surfaces are to be machines after casting. The pattern is supplied by the
customer itself. Following data can be used:
Cost
of metal = Rs.5/kg Moulds prepared by each
worker/day=20
Melting charges = 20% of metal cost
Machining
allowance on each side may be taken as 2mm Wages of each moulder =Rs. 16/day
Density of CI =
7.2 gm/cc Overhead charges = 25% of metal
cost.
12. A
manufacturer is willing to undertake the casting of 100 CI wheels shown in figure. Estimate the selling price of each wheel
assuming the following:
i) cost of pattern =Rs.40
ii) process scrap =
10% of net weight
iii) scrap return
value = Rs.2.25/kg
iv) cost
if CI = Rs.5/kg v)administrative overgeads= Rs.2/piece
vi) selling overheads =
25% of production cost
vii) profit = 15% of total cost
|
unit operation |
time |
Rate/hour |
Shop overheads |
|
moulding |
10 min |
Rs. 3 |
Rs. 10/hr |
|
pouring |
6 min |
Rs.2.50 |
Rs.8/hr |
|
shot blasting |
4min |
Rs. 4.50 |
Rs.3.50/hr |
|
fettling |
5 min |
Rs. 2.50 |
Rs. 3.00/hr |
UNDERSTANDING
1.
Explain the process costing.
2.
Explain the characteristics of process costing.
3.
List the disadvantages and advantages of process costing
4.
Explain the principles of process costing
5.
Differentiate between job costing and process costing
6.
Explain the procedure of process costing
7.
Define a) nominal wages b) real wages c) fair wages d) minimum wages
8.
Explain the concept of incentives
9.
Explain different types of budget
10.
Explain briefly: book value-Net Present Value-Work in
progress- Gross Domestic Product (GDP)-balance
sheet
11.
Explain manual tendering
12.
Explain E-tendering
