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PRODUCTION COST ESTIMATION
PRODUCTION COST ESTIMATION : Instructional Objectives
After studying this unit, the student should be able to :
(i) Know how cost costimation is done in respect of a casting.
(ii) List the various sections that will be normally found in a foundry shop.
COST ESTIMATION IN FOUNDRY SHOP
Production Cost Estimation
(iii) List the various elements of cost involved in the total cost of manufacturing a casting.
(iv) Explain what are overhead expenses.
(v) Calculate the total cost of a cast component.
(vi) Explain how cost estimation is done in respect of a welded component or welding job.
(vii) List the various elements of cost involved in weldment or a welded component.
(viii) Solve problems in the calculation of cost of welded joints.
(ix) Explain how cost estimation is carried out in respect of a forging or a forged component.
(x) List the various losses that occur in the material during a forging process.
(xi) What are the various costs involved in the calculation of total cost of forged components.
(xii) Calculate the cost of forging of typical forged components such as forged crankshaft, etc.
(xiii) Explain how machining time is estimated in respect of machined components.
(xiv) State the various components of total time required to perform a machining operation.
(xv) Calculate the time required for various machining operations such as Turning, Facing,
External relief, Undercutting, Chamfering, Knurling, Boring, Drilling, Threading, Tapping,
shaping, Planing and slotting, Milling and Grinding.
(xvi) Calculate the total time required to machine a component given all the machining
parameters and part drawing.
(xvii) Estimate the cost of machining a given component given all the elemental costs.
Keywords: Cost analysis and cost control,cost reduction,costing,cost management,production cost estimation