ESTIMATING PROJECT TIMES AND COSTS Estimating is the process of forecasting or approximating the time and cost of completing project deliverables. Cost‚ time‚ and budget estimates are the support for control. Project status reports depend on reliable estimates as the major input for measuring variances and taking corrective action. Inaccurate estimates lead to false expectations and consumer dissatisfaction. There are reasons why estimating time and cost are important. Below are the following:
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following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3‚067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4‚571 B. $3‚757 C. $3‚090 D. $3‚427 Applied manufacturing
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Cell Phones. Custom Cell Phones Essay Writing Service || Cell Phones Essay samples‚ help The use of cell phones has become a necessity and a common phenomenon among teenagers and even younger children; with the majority of adults keeping cell phones to remain accessible‚ the teenagers use those to communicate with peers. Conversations on cell phones and short message texting can become a distraction to teenagers allowing them not to concentrate on school‚ home or church‚ and this prompts parents
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Cellular Phones in Society The cellular phone is perhaps one of the greatest innovations known to man. The cellular phone coupled with technological advancements has influenced the lives of people from all lifestyles globally. However‚ the cellular phone has undergone massive evolution over time from the bulky hand-held telephone at its beginning to the hand-held mobile devices it is today. Through evolution the cellular phone has a positive effect on society. The cellular phone started
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products. Chuck questioned if the current cost-management system was providing the management with accurate data about product costs. In a traditional‚ volume-based product-costing system‚ only a single predetermine overhead rate is used. All manufacturing-overhead costs are combined into one cost pool‚ a grouping of individual indirect cost items‚ and they are applied to products on the basis of a single variable that costs over a given time span (cost driver) that is closely related to production
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Cell Phones Cell phones have brought a whole new meaning to the word multitasking. You can use the phone while waiting on the bus talking to your friend‚ cooking dinner‚ shopping‚ or even driving in a car all though you should not use your phone in your car. Reality is that these cell phones have made the world a better place and keeps improving it. Although some argue that cell phones have a negative effect on our society‚ cell phones actually provide humans with everything they need. Cell
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Classify each cost listed below as either a product cost or a period cost for purposes of preparing the financial statements for the bank. 1. The cost of the memory chips used in radar set. * Product Cost 2. Factory Heating Cost * Period Cost 3. Factory Equipment maintenance costs. * Period Cost 4. Training costs for new administrative employees * Period Costs 5. The cost of the solder that is used in assembling the radar sets. * Product costs 6. The Travel
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MLA Research Paper (Levi) Cell Phones in the Hands of Drivers: A Risk or a Benefit? Title is centered about one-third down the page. Paul Levi Writer’s name is centered around the middle of the page. English 101 Professor Baldwin 2 April XXXX Course name‚ professor’s name‚ and date are Lopez begins to centered near the identify and bottom of the page. question Goodall’s assumptions. Marginal annotations indicate MLA-style formatting and effective writing. Source: Diana Hacker
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Cost Accounting – Classification of costs Cost accounting refers to a process of accumulating‚ recording‚ classifying and analyzing all costs incurred at various levels of production. The purpose of cost accounting is manifold. It provides a final selling price‚ suggests the best possible course of action where maximum savings are possible and a strategy for future. Cost accounting is also constructive in comparing the input and output results that ultimately aids the management to arrive at a financial
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Cost reduction Generally defined as the act of cutting costs to improve profitability. Cost reduction‚ should therefore‚ not be confused with cost saving and cost control. Cost saving could be a temporary affair and may be at the cost of quality. Cost reduction implies the retention of essential characteristics and quality of the product and thus it must be confined to permanent and genuine savings in the costs of manufacture‚ administration‚ distribution and selling‚ brought about by elimination
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