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Costs of Production- Microeconomics 3.3 (Part 1)
 
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In this video I explain the costs of production including fixed costs, variable costs, total cost, and marginal cost. Make sure that you know how to calculate the per unit costs: AVC, AFC, and ATC. Let me know what you think and please subscribe. Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Next video-drawing the cost curves https://www.youtube.com/watch?v=qYKJdooEnwU Watch Episodes of Econmovies- https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH More videos about the costs of production- https://www.youtube.com/playlist?list=PLE70CA726102FB294
Views: 956914 Jacob Clifford
Pricing Strategies - How to price a product
 
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http://www.evancarmichael.com/support/ - SUPPORT ME :) Like this video? Please give it a thumbs up below and/or leave a comment - Thank you!!! Help me caption & translate this video! http://www.amara.org/en/profiles/videos/Evan%20Carmichael/ Eduardo Orellana: "Hi +Evan Carmichael I have a question for you, what happens if you've found a product or service that people need and it is extremelly valuable but are having a hard time deciding how much to charge people for it? "
Views: 98396 Evan Carmichael
Cost Estimation
 
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Bob wants to better plan and manage costs in his business. He thinks that the cost estimation techniques he has recently learned in class will help.
Manufacturer Price Sheet: Material, Labor, Overhead & Profit
 
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The following video breaks down how a manufacturer should come up with a price for industrial finished goods. First, the company must account for its material costs and apply a 5 percent indirect cost to that portion of the manufacturer's price sheet. This 5 percent is meant to offset overruns in production and or additional costs of financing inventory and material purchases. Second, the company must account for its labor relative to each operation performed to turn a raw material into a finished good. The calculation involves defining the operation and applying the labor cost to both the setup time in manufacturing and the actual run time. Third, all labor costs are added in order to come up with a complete total for all the costs of manufacturing a given product. Those costs are then followed up by the company's overhead, which is calculated by taking its indirect expenses divided by its direct expenses. Indirect expenses are those expenses that are in addition to the the costs needed to produce a part. Direct expenses are exactly that. These include the costs involved or expenses involved in manufacturing the part. Finally, the company adds its mark-up in order to secure a profit on the sale. Profit is critical because it helps to fund the company's pursuit of new product introductions and secure its long-term future. Here is a sample of the Manufacturer Price Sheet in Excel Format http://www.driveyoursuccess.com Video explains how to price a product with direct material, labor, overhead and profit
Views: 32576 Ian Johnson
Cost Estimation   Production Version
 
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CO-PC - Product Costing is performed with different production versions if multiple types of Production Lines are there. This videos explains the Production Version and Cost Estimation Process
Views: 3198 SAP and Cloud
Area of different Shape - Estimating Costing basic Concepts part-1 TA0123
 
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Support my work: Patreon Link: https://www.patreon.com/TechnicalAtyachar Estimating Costing basic Concepts TA0123 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.
Views: 195883 Technical Atyachar
How to Calculate Total Cost, Marginal Cost, Average Variable Cost, and ATC
 
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Tutorial on average cost, total cost, marginal cost for microeconomics, managerial economics. Entire Playlist on Theory of Cost (Introduction to Calculus Proof) http://www.youtube.com/playlist?list=PLE974AB1D5942A6FD Like us on: http://www.facebook.com/PartyMoreStudyLess
Views: 439177 Economicsfun
#1 Estimating with Excel for the Small Contractor
 
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In the video I will teach you how to use Excel to build a worksheet for estimating projects for the small contractor. The end result is a very basic, but usable estimating template. I hope to make additional videos to expand on this template and build a complete system of estimating, proposals letters, tracking your hours and materials and invoicing the job. All your information about the job is in one worksheet. I am not selling a product and I am a contractor just like you. I just wanted to teach other contractors how to use Excel in estimating. If I get some interest in the video then I will continue to make more of them. If no one is interested then I'll just stop at one video.
Views: 539360 rcargin1
Estimating Overheads and Costs
 
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What overheads and costs should you include when estimating and quoting? Paul Lawrence from Masters in Building Training explains the secrets in calculating your overheads. Need building training? Contact us www.mibt.edu.au
Excel Magic Trick 285: Markup On Sell Price Formula
 
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See how to calculate Sales Price given Cost and Markup On Sales Price. Sells Price = Cost/(1-Markup On Sales Price) Base = Part1/Rate1 Base = Part2/Rate2 Base = Part1/(1-Rate2) Base = Part2/(1-Rate1)
Views: 207425 ExcelIsFun
2 Easy Steps: Break Even Analysis for Cost Volume Profit Analysis Tutorial
 
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Clicked here http://www.MBAbullshit.com/ and OMG wow! I'm SHOCKED how easy.. For instance you are an advertising executive and just after initiating your unique commercial, the sales of your cola drink jumps to $1 million dollars. Is that a decent outcome? Yes? In fact, you definitely don't know! What are the reasons? What if you exhausted $1 million dollars in advertising costs and also the ingredients and container of this cola soda also cost $1 million dollars, to find a total of $2 million? You will have earned $1 million dollars, but will have invested $2 million dollars on advertising in addition to "cost of goods." Furthermore, one would still seek to join the expenses of the business enterprise like rent, salaries, etc. Therefore, what quantity should your advertising grow sales before we are able to assume that the excess sales you observed from advertising is sufficient to at any rate pay for your complete costs and expenses? Maybe $2 million? $3 million? What quantity exactly? This is actually the principle of "Break Even." A corporation break even point is the precise amount of sales that you need in which the money may possibly be merely enough to pay for your costs and expenses. Whereas, a task's (ex. An advertisement's) break even point is exactly where the rise in sales added by way of the new undertaking is ample to fund the additional costs and expenses brought by that new scheme. Recognize that achieving break even does not mean you are receiving a profit though either; like I reported previously, it only means you find yourself making enough to pay for your costs and expenses. http://www.youtube.com/watch?v=ar7mVYY-AO0 Accordingly, so as to produce a profit, you'd need to 1) produce more sales so that you will go beyond the break even point, and/or 2) improve your merchandise's "contribution margin." Precisely what is contribution margin? It happens to be the difference between the price that you intend to deal in your merchandise and your "variable costs." Variable costs are costs which aren't "fixed" (fixed costs are things like fixed rent and flat compensations which may not climb regardless of whether you generate and/or sell more products or services). For this reason, contribution margin is different from "profit" for the reason that once we compute profit, we integrate fixed costs and overhead. http://mbabullshit.com/blog/cost-volume-profit-analysis-break-even-analysis/ Cost Volume Profit Analysis, on the other hand, is definitely parallel to but bigger than Break Even Analysis, as it carries going more than just figuring out how much to sell with the intention to cover costs and expenses. With cost volume profit analysis, we likewise try to resolve how much we might sell if we want to reach a certain target profit, in which we take into account taxes as well. breakeven, break even analysis, cost volume profit analysis, what is break even analysis
Views: 279140 MBAbullshitDotCom
How to prioritise your product backlog in Agile using WSJF method
 
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This short video you will teach you on how to prioritise your product backlog using Weighted Shortest Job First method If you like it, do not forget to Share, Like & Subscribe to my channel Twitter: @_KrishnaR_ Blogger: goo.gl/fyRYgn
Views: 15161 Krishna R
Cost Calculations Using an Excel Spreadsheet.mp4
 
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This video shows the cost calculations that are a part of the normal Econ 101 class. This is a normal part of the section that is often called the theory of the firm. It describes the process by which a price taker firm (a firm in pure competition) decides what quantity to produce given its costs and given some possible market prices that it will receive for the good it sells. This video uses tables to tell this story. Unfortunately this video is not an accounting video and will not be of much help in formulating a business plan. It is intended to explain one of the core sections of a principles of microeconomics class.
Views: 206626 mcneilecon
3 Types of Manufacturing Costs (Direct Materials, Direct Labor, Manufacturing Overhead)
 
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This videos identifies and defines the three types of manufacturing costs: Direct Materials, Direct Labor, and Manufacturing Overhead. The video also provides examples of each type of manufacturing cost to better illustrate the concepts. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 155489 Edspira
Cost Estimation
 
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Cost Estimation 5 Methods-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 67 Leon Gerk
Calculate Food Cost | 5 Steps to Reduce Costs for Restaurant Management
 
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Learn how to calculate food cost and monitor the price changes in your business. James Clary teaches how to avoid the error most management makes that costs time and money. Lower your food cost percentage on your menu like a smart owner. Get a demo: www.foodcst.com Related Tags: food cost calculator food cost percentage restaurant consulting restaurant owner the restaurant boss ryan gromfin restaurant food business excel cost control standard food cost formula food cost inventory spreadsheet food cost formula pdf food cost calculator app food cost software for mac food cost calculator software food cost calculator excel food cost percentage formula excel food cost percentage definition The proper calculation is Beginning Inventory + Food Purchases - Ending Inventory. This number provides the restaurant's Cost of Goods Sold (COGS). The COGS is then divided by Food Sales, and the resulting number is your exact food cost. For more information on restaurant software provided by Foodcst you can visit www.foodcst.com.
Views: 70492 FoodCst LLC
Introduction to Cost Theory
 
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First of three videos on cost theory which is typically taught in microeconomics. The video include how the average cost curve and marginal cost curves are derived. It shows the relationship between total product curve and total cost curves. Like us on: http://www.facebook.com/PartyMoreStudyLess
Views: 135268 Economicsfun
Cost estimation of a component using SOLIDWORKS
 
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SOLIDWORKS automatic cost estimation tools are fully integrated with a 3D CAD, enabling designers and engineers to continuously check their designs against cost targets. Easily monitor manufacturing costs as you design, thereby avoiding costly redesigns and production delays later on. Manufacturers can also utilize SOLIDWORKS cost estimation tools to automate their quoting process. This video helps the designer to quickly estimate the product cost before the manufacturing. Subscribe our Channel to get notified of our upcoming series on tips and trick for CAD Design and SOLIDWORKS. Conceptia Konnect is an award-winning Authorized Value-Added Reseller for SOLIDWORKS, SOLIDWORKS Simulation, SOLIDWORKS Flow Simulation, SOLIDWORKS Composer (Formerly 3DVia), SOLIDWORKS Plastics, SOLIDWORKS Electrical, SOLIDWORKS Enterprise Product Data Management and DraftSight in India. We also provide state-of-the-art solutions from DriveWorks and 3DConnexion and handle the All India Distribution and reseller network for InspectionXpert Corporation.
Calculus - Marginal cost
 
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In this video we cover the idea of marginal cost. This is simply the derivative of the cost function. We can roughly define marginal cost as the cost of producing one additional item. For more videos please visit http://www.mysecretmathtutor.com
Views: 119784 MySecretMathTutor
Costs Of Production: Crops
 
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Mykel Taylor provides a discussion of how to manage costs of production for crops in Kansas.
Views: 138 AgManagerInfo
Overhead and Profit Calculator Webinar
 
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The PHCC Overhead & Profit Calculator can help you to determine your true costs of doing business and proper pricing for your services. In this webinar, we'll cover the concepts behind the software & show you how to use this tool to determine YOUR numbers.
Food Costs Formula: How to Calculate Restaurant Food Cost Percentage
 
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What is the food cost formula and how can you use it to calculate your restaurants food cost percentage. I will explain everything you need to know about food costing in this video. As a restaurant owner, manager, operator or chef, you have to know how to calculate your food cost so you can lower expenses and increase your profits. If you enjoyed this video and want more just like them including a free training series called the foundation to a lifetime of restaurant success. Click Here: http://TheRestaurantBoss.com LEARN MORE ABOUT BACON: http://ClickBacon.com DOWNLOAD THE RESTAURANT PROFIT GUIDE: http://restaurantprofitandperformance.com MORE FREE RESTAURANT TRAINING TIPS: http://RestaurantProfitandPerformance.com SUBSCRIBE: http://www.youtube.com/subscription_center?add_user=gromfinboss At The Restaurant Boss, I post weekly training tips for restaurants and bar’s. Tips range from food and labor cost, to restaurant specific marketing and management. I welcome you to check it out and sign up for my FREE video training series. LET’S CONNECT! Facebook - http://facebook.com/TheRestaurantBoss Twitter - https://twitter.com/RyanGromfin Instagram - http://instagram.com/ryangromfin MORE GREAT VIDEOS https://www.youtube.com/user/gromfinboss Please be sure to like this video and leave your comments or questions below as well as share this video with your friends, co-workers and other restaurant owners, managers and operators. I promise to respond to every comment or question! Thank you, Ryan Gromfin The Restaurant Boss http://TheRestaurantBoss.com
Views: 574562 The Restaurant Boss
Understanding Sheet Metal Costs
 
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Hi! My name is Rob Olney from ETM Manufacturing and I am here to talk to you about costing sheet metal parts. We've just released a FREE eBook about 40 pages on how to cost sheet metal parts. I'm going to walk you through the basics. There are 4 basic elements, the first is Materials. You'll want to take your sheet metal part and unfold it so you get a flat sheet and use the X and Y dimensions, multiply by the thickness, and then multiply by the density of the material and then multiply that by the dollar per pound. $/lb can be found on the LME Index with some adjustments and there is more detail in our eBook. That will get you raw material. The next thing you'll want to go after is your hardware material. Either you'll go to your local distributor for PEM hardware, or you'll go to McMaster-Carr or Grainger or a number of other resources to get that costing and that will get you your hardware costs. Next you'll want to take a look at your labor -- that's another big element of the cost of a sheet metal part. And you want to estimate how much time it will take you to punch or laser cut the part, how much time it will take you to deburr it, how much time it will take you to form each of the bends, all the way through to weld, grind, assemble, ship. Each amount of time is multiplied by the labor rate for that particular work center. And that ranges anywhere from $12 all the way up to $24/hr. Details can be found on salary.com for hourly rate. The next biggest impact on sheet metal costs is the overhead. That can be employee specific overhead (for example, workers comp insurance, health insurance, payroll taxes). It can also be plant and equipment overhead (for example, depreciation on the equipment, or the energy/utility type of bills as well as the rent that is paid for the building). And that can be on a per hour basis usually around $20 to $30 per hour for that kind of overhead. Lastly every metal fabricator has some amount of profit. Industry average is 2 -- 3%. So, you'll want to take your material costs, plus your labor, plus your overhead, add that up, add 2 -- 3% for profit and that will give you total estimated sheet metal cost. Then as you compare your pricing from your suppliers to your estimated total, you'll understand a little bit more about their overhead costs, whether higher or lower, or their labor costs, whether higher or lower, or their material costs, whether higher or lower. If you want to read more about this, go to our website at www.etmmfg.com for the free eBook on saving costs. Thank you very much.
Views: 11012 ETMmfg
Automatic calculation of IT products price
 
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Automatic calculation of IT products price according to the individual parameters of your company HOW TO ESTIMATE COST OF COMPLEX IT SOLUTIONS QUICKLY AND EASILY? Don’t wait for a cost estimation of IT solution from supplier - save your time and calculate the cost of IT products and solutions using the ROI4CIO calculator. Estimate a budget anytime online and don’t worry about the seller's influence on your decision. You can take your time to figure out what values give you those or other characteristics of the product and automatically calculate a cost of the IT product for your individual parameters you need. Benefits of the ROI4CIO price calculator: time-saving calculation of IT products/solutions cost; individual calculation taking into account parameters of your company; the price calculator is available online at any time and in any place; you can send a link with configuration and specification to suppliers along with the request for proposal. HOW DOES IT WORK? The price calculator ROI4CIO is a easy-to-use, user-friendly and effective tool for estimating the cost of IT products/solutions. 1. Select an IT product/solution. 2. Click on a "Calculator" icon, which opens a form with questions. 3. Enter individual parameters. The price calculator ROI4CIO is an automated interactive form, where follow-up questions depend on the answers in the previous step. Hints are available to explain the meaning of each parameter. 4. Get a cost of an IT product/solution and a detailed specification. 5. A detailed specification can be exported to PDF, Excel and sent as URL.
Views: 5 ROI4CIO
[#2]Cost sheet with Inventories [Comprehensive Problem] Cost Sheet tutorial by:- Kauserwise
 
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Here is the video about Cost sheet with Inventories - comprehensive problem in Cost accounting, In this video we have done a Comprehensive problem on Cost Sheet, and We explained briefly what is cost sheet, order of cost sheet classifications and cost sheet format. hope this will help you to get the subject knowledge at the end. Thanks and All the best. To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu For Statisctics - https://www.youtube.com/playlist?list=PLabr9RWfBcnoJi5snMQQzDGYmb4ydFpTs
Views: 239673 Kauser Wise
[#1] Introduction to Cost Accounting - (COST SHEET) :-by kauserwise
 
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Introduction to Cost Accounting - (COST SHEET) Accounting tutorial, Elements of costs, Material cost, Labour cost, other expenses, Direct material cost, indirect material cost, direct labour cost, indirect labour cost, direct other expenses, indirect other expenses. Over heads. Factory over heads, office and administrative over heads, selling and distribution over heads. To watch more tutorials pls visit: www.youtube.com/c/kauserwise * Financial Accounts * Corporate accounts * Cost and Management accounts * Operations Research Playlists: For Financial accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnojfVAucCUHGmcAay_1ov46 For Cost and Management accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnpgUjlVR-znIRMFVF0A_aaA For Corporate accounting - https://www.youtube.com/playlist?list=PLabr9RWfBcnorJc6lonRWP4b39sZgUEhx For Operations Research - https://www.youtube.com/playlist?list=PLabr9RWfBcnoLyXr4Y7MzmHSu3bDjLvhu
Views: 733247 Kauser Wise
Theory of Production | Production Function | Long Run | Short Run
 
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Managerial Economics; Management; Theory of Production | Production Function | Long Run | Short Run; Introduction 00:00:00- 00:00:33 What is Profit? 00:00:34- 00:02:35 *How to calculate profit? *Relation between total cost and profit The Decision-Making areas of a Firm 00:02:36- 00:03:50 -Achieve minimum cost of production - Output and quantity of inputs - Technology and cost of production - Least- cost combination of inputs - Rate and return and the number of plants (technology constant) Meaning of Production 00:03:51- 00:10:48 *Basic concepts in production -Input and output - Fixed and variable inputs - Long run and short run *Various inputs of production process *How to differentiate short run, long run and very long run production? Production Function 00:10:49- 00:14:35 *Relationship between input and output *What is a production function? *Simplification of production function Conclusion 00:14:36- 00:14:56 Video by Edupedia World (www.edupediaworld.com); Free Online Education; Click here for more videos on Managerial Economics; All Rights Reserved.
Views: 42741 Edupedia World
Die Basics & sheetmetal Manufacturing Cost Estimation -FTI Training
 
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Die Basics & sheetmetal Manufacturing Cost Estimation in FTI solution: COURSE OBJECTIVE: Learn the fundamentals for estimating the cost of stampings and tooling. Included will be an introduction to Activity-Based Costing (ABC) techniques as well as methods and formulas for determining piece price and tooling costs. All Engineers/participants will be performing Projects to determine the piece price and tooling price for stampings. WHO CAN TAKE OUR ADVANCED COURSE?:R&D Enginners/Designers,GM-Design,ToolROOM ,Cost and Tooling Estimators and Stamping Buyers. 1.0 An Overview of Stamping Estimating 1.1 Methods to Determine Actual Costs 1.2 Estimating with Activity Based Costing 2.0 Determining the Press and Die Type 2.1 An Overview of Mechanical, Tandem and Transfer Press Lines Project: Selecting a Press for a Specific Need 2.2 Estimating the Cost of a Press Line 3.0 Determining Material Costs 3.1 Determining the Material Weight Project: Calculating the Blank Weight 3.2 Determining the Total Material Cost Project: Determining the Material Cost of a Control Arm 4.0 Cost Estimating Stamped Parts 4.1 An Overview of the Factors that Affect Stamping Pricing Project: Determining the Piece Price for Part Produced from Manual Dies Project: Determining the Piece Price for Part Produced from Transfer Dies 5.0 Cost Estimating Tooling 5.1 Determing the Cost of Tooling Project: Amortizing the Blank Die Cost into the Piece Price 5.2 Estimating Tooling Development Time Project: Determining the Tooling Cost and Delivery Time for a Progressive Die 5.3 Tooling Buy-off 5.4 An Overview of Soft Die Development - See more at: http://www.store.smartlearningindia.com/Estimating-the-Costing-of-Stampings-and-Tooling-FTI-Training-id-1846831.html
1 Managerial Accounting Basics - 1 Cost Classifications
 
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1 of 10 Managerial Accounting Video Lectures by Professor Bassell on this channel. A discussion of managerial accounting concepts by Professor Myles Bassell. Professor Bassell discusses cost classifications and cost behavior. He explains manufacturing costs and non-manufacturing costs. Professor Bassell mentions the difference between financial and managerial accounting and product costs and period costs. He discusses the 3 components of product costs: direct materials, direct labor, and manufacturing overhead. Professor Bassell emphasizes that products costs are inventoriable costs that are included in the cost of goods sold at the time the product is sold. He discusses direct, indirect, fixed, and variable costs.
Views: 227340 Professor Bassell
#23, Types of cost in economics | cost function | microeconomics | Class 11 | Class 12
 
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Class 12 microeconomics.... types of cost Introduction of cost... Cost function..... Types of cost... Total fixed cost... Total variable cost.... Total cost...... Cont for my book....7690041256 Economics on your tips video 23 Our books are now available on Amazon Special Combo - Economics on your tips Micro + Macro http://amzn.in/d/eSxj5Ui Economics on your tips Macroeconomics http://amzn.in/d/2AMX85O Economics on your tips Microeconomics http://amzn.in/d/cZykZVK Official series of playlists UG courses ( bcom, bba, bca, ba, honours) – https://www.youtube.com/playlist?list=PLgC10_Xv-BGirAqOr-hU8e-N_Nz0UpgJ- Micro economics complete course – https://www.youtube.com/playlist?list=PLgC10_Xv-BGg5n3YU6oEV7_HIzBuEbbOz Macro economics complete course- https://www.youtube.com/playlist?list=PLgC10_Xv-BGg2ORORpILqiDR1gyH3MkXw Statistics complete course- https://www.youtube.com/playlist?list=PLgC10_Xv-BGjrAkDyeMioJ7DEexAEeVdt National income – https://www.youtube.com/playlist?list=PLgC10_Xv-BGjpE-1V4uz_0wvvbZQnSsj_ In order to promote us and help us grow Paytm on - 7690041256 Link for the previous video(video 22) causes of increasing,decreasing nd -ve return(Class 12 microeconomics)economics on your tips video22 - YouTube https://www.youtube.com/watch?v=oNi1cPTwRnE Link for the next video(video 24) Class 12 microeconomics (types of cost) economics on your tips video 24 - YouTube https://www.youtube.com/watch?v=YD5ZZrhWu7M
Views: 576165 Economics on your tips
Teamcenter Product Cost Management – Cost transparency throughout the product lifecycle
 
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This video explains how Teamcenter Product Cost Management increases profitability of companies through early product cost transparency. Product costing can be used for target costing, purchase price analysis, design to cost, should costing, open book accounting, profitability calculation and cost breakdowns . Parametric and 3D-based Tool Costing is integrated. German: https://www.youtube.com/watch?v=XfZculaTzW4 For more information, go to: http://www.plm.automation.siemens.com... To learn more about Product Costing Methods in Manufacturing, please visit https://www.plm.automation.siemens.com/global/en/challenges/product-costing-methods-in-manufacturing.html
Views: 7876 Siemens PLM
Production Function Part-1
 
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theory of production
Views: 202933 Yasser Khan
Chapter 8 Cost analysis and estimation
 
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owesomeness-- Created using PowToon -- Free sign up at http://www.powtoon.com/join -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 731 Salvador de guzman
Scatter-Graph and High-Low Method | Managerial Accounting | CMA Exam | Ch 2 P 4
 
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Mixed Costs A mixed cost contains both variable and fixed cost elements. Mixed costs are also known as semivariable costs. Mixed costs are very common. For example, the overall cost of providing X-ray services to patients at the Harvard Medical School Hospital is a mixed cost. The costs of equipment depreciation and radiologists’ and technicians’ salaries are fixed, but the costs of X-ray film, power, and supplies are variable. At Southwest Airlines, maintenance costs are a mixed cost. The company incurs fixed costs for renting maintenance facilities and for keeping skilled mechanics on the payroll, but the costs of replacement parts, lubricating oils, tires, and so forth, are variable with respect to how often and how far the company’s aircraft are flown. The fixed portion of a mixed cost represents the minimum cost of having a service ready and available for use. The variable portion represents the cost incurred for actual consumption of the service, thus it varies in proportion to the amount of service actually consumed. Page 35 Managers can use a variety of methods to estimate the fixed and variable components of a mixed cost such as account analysis, the engineering approach, the high-low method, and least-squares regression analysis. In account analysis, an account is classified as either variable or fixed based on the analyst’s prior knowledge of how the cost in the account behaves. For example, direct materials would be classified as variable and a building lease cost would be classified as fixed because of the nature of those costs. The engineering approach to cost analysis involves a detailed analysis of what cost behavior should be, based on an industrial engineer’s evaluation of the production methods to be used, the materials specifications, labor requirements, equipment usage, production efficiency, power consumption, and so on. The high-low and least-squares regression methods estimate the fixed and variable elements of a mixed cost by analyzing past records of cost and activity data. We will use an example from Brentline Hospital to illustrate the high-low method calculations and to compare the resulting high-low method cost estimates to those obtained using least-squares regression. Appendix 2A demonstrates how to use Microsoft Excel to perform least-squares regression computations. Diagnosing Cost Behavior with a Scattergraph Plot Assume that Brentline Hospital is interested in predicting future monthly maintenance costs for budgeting purposes. The first step in applying the high-low method or the least-squares regression method is to diagnose cost behavior with a scattergraph plot. The scattergraph plot of maintenance costs versus patient-days at Brentline Hospital is shown in Exhibit 2–6. Two things should be noted about this scattergraph: The total maintenance cost, Y, is plotted on the vertical axis. Cost is known as the dependent variable because the amount of cost incurred during a period depends on the level of activity for the period. (That is, as the level of activity increases, total cost will also ordinarily increase.) The activity, X (patient-days in this case), is plotted on the horizontal axis. Activity is known as the independent variable because it causes variations in the cost. From the scattergraph plot, it is evident that maintenance costs do increase with the number of patient-days in an approximately linear fashion. In other words, the points lie more or less along a straight line that slopes upward and to the right. Cost behavior is considered linear whenever a straight line is a reasonable approximation for the relation between cost and activity. The High-Low Method Assuming that the scattergraph plot indicates a linear relation between cost and activity, the fixed and variable cost elements of a mixed cost can be estimated using the high-low method or the least-squares regression method. The high-low method is based on the rise-over-run formula for the slope of a straight line. The Least-Squares Regression Method The least-squares regression method, unlike the high-low method, uses all of the data to separate a mixed cost into its fixed and variable components. A regression line of the form Y = a + bX is fitted to the data, where a represents the total fixed cost and b represents the variable cost per unit of activity. The basic idea underlying the least-squares regression method is illustrated in Exhibit 2–8 using hypothetical data points. scattergraph, high-low method, traditional format, contribution format income statement, differential cost, Direct cost, indirect cost, common cost, manufacturing overhead cost, indirect material, indirect labor, selling cost, administrative cost, product cost, period costs, prime cost, conversion cost, variable cost, fixed cost, committed fixed cost, discretionary fixed cost, relevant range, mixed cost, engineering approach,
Fixed Overhead Per Man Hour Calculation Explained
 
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http://www.lawncaremillionaire.com - Learn how to calculate fixed overhead as a per man hour dollar amount. This is one of the basic numbers you need to know to grow your lawn care business. Without understanding fixed overhead, you'll have a lot of trouble growing your lawn care business into a profitable business.
Views: 14825 Lawn Care Millionaire
Tesla Solar Roof: Cost Estimate with Powerwall 2 and Electricity Costs
 
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New Video! "Tesla's Private Viewing of Falcon Heavy Launch Arabsat 6A" https://www.youtube.com/watch?v=wxYEKGMPrfE --~-- There aren't many details yet about the Tesla Solar Roof product but Elon Musk has given us some clues. In this video, I break down what he said and what the potential costs may be for the newTesla Solar Roof including the Powerwall 2 and the cost of electricity. // Tesla Solar Roof Cost Estimator http://bensullins.com/tesla-solar-roof-cost-estimate-powerwall-2-electricity-costs-included/ // Follow Me Online facebook: https://fb.com/ben.sullins.data twitter: http://twitter.com/bensullins web: http://bensullins.com // Data Sources - Teslarati - http://www.teslarati.com/consumer-reports-estimates-tesla-solar-roof-cost/ - Consumer Reports - http://www.consumerreports.org/roofing/heres-how-much-teslas-new-solar-roof-shingles-could-cost/ - Remodeling Costs -http://www.remodeling.hw.net/cost-vs-value/2016/ // Credits Bloomberg / Tesla - https://vimeo.com/191718417 Energy Sage - http://news.energysage.com/congress-extends-the-solar-tax-credit/ // Music Buddha by Kontekst https://soundcloud.com/kontekstmusic Creative Commons — Attribution 3.0 Unported— CC BY 3.0 http://creativecommons.org/licenses/b... Music provided by Audio Library https://youtu.be/b6jK2t3lcRs Dreams by Joakim Karud https://soundcloud.com/joakimkarud Creative Commons — Attribution-ShareAlike 3.0 Unported— CC BY-SA 3.0 http://creativecommons.org/licenses/b... Music provided by Audio Library https://youtu.be/VF9_dCo6JT4 Rock Angel by Joakim Karud https://soundcloud.com/joakimkarud Creative Commons — Attribution-ShareAlike 3.0 Unported— CC BY-SA 3.0 http://creativecommons.org/licenses/b... Music provided by Audio Library https://youtu.be/K8eRXvLL7Wo // What is the Tesla Solar Roof? (src: tesla.com) The sun provides more than enough energy in just one hour to supply our planet’s energy needs for an entire year. Your home can capture this free, abundant energy source through rooftop solar tiles, turning sunlight into electricity for immediate use or storage in a Powerwall battery. // History of the Tesla Solar Roof (src: wikipedia) In the August 2016 earnings call, Elon Musk preannounced that Solar City would be introducing a new product where the photovoltaic electrical energy generating devices and system would make up an entire roof surface, rather than merely be the mounting of solar panels on an existing roof, stating "It’s not a thing on a roof. It is the roof,"[53] as solar energy systems have generally been designed and installed during the early decades of terrestrial solar power.[54] Assorted styles of solar roof tiles, made of glass, were unveiled at Universal Studios' Colonial Street backlot street set in late October 2016. Also unveiled was the Tesla Powerwall 2, a home battery product designed to store surplus power, either from the tiles or from the grid.[55] Consumer Reports compared the estimated economy of solar roofs to traditional roofing.[56][57] // What is a Tesla Powerwall? (src: wikipedia) The Powerwall and Powerpack are rechargeable lithium-ion battery stationary energy storage products manufactured by Tesla Motors. The Powerwall is intended for home use and stores electricity for solar self-consumption, time of use load shifting, backup power, and off-the-grid use.[1] The larger Powerpack is intended for commercial or electric utility grid use and can be used for peak shaving, load shifting, backup power, demand response, microgrids, renewable power integration, frequency regulation, and voltage control. Announced in 2015, with a pilot demonstration of 500 units built and installed during 2015, production of the product was initially at the Tesla Fremont factory before being moved to the under construction Gigafactory 1 in Nevada.[2] The second generation of both products were announced in October 2016. // What is Tesla? (src: wikipedia) Tesla Motors (often shortened to Tesla) is an American automaker and energy storage company co-founded by Elon Musk, Martin Eberhard, Marc Tarpenning, JB Straubel and Ian Wright, and is based in Palo Alto, California. The company specializes in electric cars and their powertrain components and also produces battery charging equipment.[7][8][9] // How to pronounce Tesla The word 'Tesla' actually falls outside the guidelines for |s| pronunciation in English. If the 's' follows a vowel or a voiced consonant it is generally pronounced |z|. For example - acquisition - busy - cosy - cousin - design - desire - disease - easy - museum - music - opposite - pleasant - position - positive - presence - present - president - prison - proposal - reason - reserve - resident - resist - resolve - result - season - visit - user source: http://teflpedia.com/IPA_phoneme_/z/
Cobb-Douglas Production Function Differentiation Example
 
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Given the basic form of the Cobb-Douglas production function, we'll find the partial derivatives with respect to capital, K, and labor, L. Thereby finding the marginal products of capital and labor. Starting with Cobb-Douglas production function: Y=F(K,L)=AK^α L^(1-α) Derivative of output w.r.t. Labor, then differentiation of production with respect to capital. Finding the wage rate and marginal product of labor. And finding the rental rate and the marginal product of capital. More Intermediate Macro Video: https://sites.google.com/site/curtiskephart/ta/intermediate-macro-solutions
Views: 214105 economicurtis
Cat® Product Link™ | Reducing Owning and Operating Costs
 
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Cat® Product Link™ - Every day, on every job, the pressure is on to do more with less. Fuel costs, maintenance and repair expenses, operator efficiency and site conditions all have an impact on the total cost of your operations. Cat Product Link gives you easy, instant access to all kinds of data that can help you control and reduce those costs - while boosting efficiency and productivity. Learn more at: http://www.cat.com/en_US/support/operations/technology/fleet-management-solutions/product-link.html
Views: 3421 Cat® Products
What are Elements of Labor Cost Estimation and How to develop a Labor Cost Rate
 
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Welcome to Protrain's micro learning series. In this video we will talk about Elements of Labor cost estimation’. We we will discuss elements of a labor cost estimate and understand labor cost is categorized into direct labor costs, indirect labor cost and overhead labor cost. We will also talk about fully loaded or billing rate and how it consists of, base salary, fringe benefits, overhead and profit.
Views: 215 Protrain
Cost Behavior: Fixed, Variable, Mixed, and Step Costs
 
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This video describes the way four different types of costs behave: Variable, Fixed, Mixed and Step. ********************************************************** C’s get degrees, but they don’t get jobs. College is about earning a high GPA and getting the knowledge you need to succeed in your career. To get that knowledge you need to do the reading for your classes, but we all know it’s boring and time-consuming. What if I told you you could eliminate up to 80% of the reading required in your classes, while actually doing better on your exams? Learn more at https://www.collegesuccesshacks.com ******************* NEED MORE HELP? *********************** For more help with cost behavior?: Variable Cost: https://accountinginfocus.com/managerial-accounting-2/cost-behavior/variable-cost/ Fixed Cost: https://accountinginfocus.com/managerial-accounting-2/cost-behavior/fixed-cost/ Mixed Cost: https://accountinginfocus.com/managerial-accounting-2/cost-behavior/mixed-cost/ Mixed Cost and the High-Low Method: https://accountinginfocus.com/managerial-accounting-2/cost-behavior/mixed-cost-and-the-high-low-method/ Introduction to Fixed and Variable Costs: https://accountinginfocus.com/managerial-accounting-2/cost-behavior/cost-behavior-introduction-to-fixed-and-variable-costs/ For more help with your managerial/cost accounting course: https://accountinginfocus.com/managerialcost-accounting/ For information about Accounting In Focus: https://accountinginfocus.com *************** FREE 30-MINUTE TUTORING SESSION ************* Get great tutoring at an affordable price with Chegg. Use our affiliate link to get your first 30 minutes FREE. http://chggtrx.com/click.track?CID=286409&AFID=424689&ADID=1873486&SID ********************** FOLLOW ME *************************** Facebook: Facebook.com/accountinginfocus Twitter: Twitter.com/KristinLIngram Instagram: Instagram.com/KristinIngramCPA
Views: 44485 Kristin Ingram
HOW MUCH do 3D printed parts really COST?
 
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I show you how you can use my EXCEL calculation sheet to create quotes for customers. We take a look at which costs really need to be considered if you want to run a small 3D printing business. 💚 Support me on Patreon: https://www.patreon.com/cnckitchen Download my calculation sheet from GitHub: https://github.com/CNCKitchen/3D-Printing-costs 🏆 Do you want to help me cover my running costs? Send me a dollar or two over PayPal, it helps me a lot! https://www.paypal.me/CNCKitchen 🚀 Support me by using my AMAZON affiliate links 🔽 . Doesn't cost you a penny, but I get a small percentage. http://geni.us/tGjGj 🌼 Even watching the ads before my videos helps me a lot! Subscribe to the channel: https://www.youtube.com/c/cnckitchen Follow me on Twitter: https://twitter.com/cnc_kitchen
Views: 89234 CNC Kitchen
Basketball Cost Estimation
 
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This is my engineering econ estimation project. I chose to estimate the cost of production of basketballs. Sorry about the audio, I don't have a proper mic.
Views: 120 Cory P.
Karnataka Diploma Estimation And Costing - Estimation of cost in Machine Shope - Part 1
 
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Mokhtar Ahmed Contact number - +91 9341262367 +91 8618817605
Views: 1909 Mokhtar Ahmed
Contract Costing | Estimated & Notional Profit by CA Raj K Agrawal
 
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To Buy Complete Classes visit www.studyathome.org or Call: 8737012345. StudyAtHome.org is a Online Platform, that provides CA/ CS/ CMA classes from India's Best Professors at your Home.
Views: 41741 Study At Home

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