Product Production Costing
Owner: Dr Matt Cole
Number of students: 1
Formative Deadline: Friday W15
Learning Outcomes
Detail the costs related to a product including materials, labour, estates, and human resources and link these to a company’s business strategy.
Knowledge Requirements
For Knowledge, you should complete the “Business” Moodle quiz available on this unit’s Moodle page.
Application Requirements
This written submission requires the use of evidence collected during the Business Game laboratory though can be completed using evidence for a personal project should students wish. The Mahara submission should include;
- evidence confirming pass of the Knowledge MCQ
- a section entitled ‘Costing’
- a summary excel (or equivalent) image with a breakdown of the costs for the work or project
- a written section with justification for each of the stated costs (500 words)
Costs to be considered should include: 1) The costs of the components and material to build the work or project. 2) The cost of labour including tax, national insurance, and pension contribution. 3) The cost of using facilities and equipment including estimated maintenance and depreciation. 4) One-off and recurring HR costs such as boarding, firing, and benefits.
Synthesis Requirements
Evidence of applying the K and A content to a real company, either led by the student or a detailed review of a real company that adds depth the K and A content through the use of extensive numerical data to support the narrative.
Knowledge Opportunities
After the lecture W11
Application Opportunities
Business game W11