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This category of costs includes expenses like: Electricity for the equipment and lighting. Cleaning costs of equipment. Material handling like forklifts; Maintenance of the equipment. Wages of employees in the factory who for example work on record keeping and inspection of materials. Computing the operation of the process of manufacturing the ...
Material handling involves short-distance movement within the confines of a building or between a building and a transportation vehicle. [1] It uses a wide range of manual, semi-automated, and automated equipment and includes consideration of the protection, storage, and control of materials throughout their manufacturing, warehousing ...
Storing procured materials appropriately is crucial for saving costs. For example, if electronical equipment is procured and delivered to the construction site in one lot to save costs on multiple delivery fees, the electrical equipment that is not needed for assembly immediately has to be stored in water-proof locations. [5]
In construction, the costs of materials, labor, equipment, etc., and all directly involved efforts or expenses for the cost object are direct costs. In manufacturing or other non-construction industries the portion of operating costs that is directly assignable to a specific product or process is a direct cost. [1]
A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
Material handling equipment (MHE) is mechanical equipment used for the movement, storage, control, and protection of materials, goods and products throughout the process of manufacturing, distribution, consumption, and disposal. [1]
Indirect labour cost: The indirect labour cost is the cost associated with workers, such as supervisors and material handling team, who are not directly involved in the production. Indirect materials cost: Indirect materials cost is the cost associated with consumables, such as lubricants, grease, and water, that are not used as raw materials.
In construction, the costs of materials, labor, equipment, etc., and all directly involved efforts or expenses for the cost object are direct costs. In manufacturing or other non-construction industries, the portion of operating costs that is directly assignable to a specific product or process is a direct cost. [4]