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    MIE Solutions Blog

Costing Product Capacity Of A Facility and Demand Affects

By Dave Ferguson
December 21, 2015
, By Dave Ferguson
December 21, 2015
, By Dave Ferguson
December 21, 2015
, By Dave Ferguson
December 21, 2015

Do you wonder what your shop's burden rates are for working 8-hour days but having only 4 hours of work to do? Do you charge your customer for all 8 hours? There are some companies that will charge for 8 hours of work even when there was only 4...
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Classification Of Costs - Fixed and Variable Costs

By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012
, By Dave Ferguson
June 14, 2012

There are many facets of costing and breaking costing into these four categories helps in understanding
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Engineering Costs

By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011
, By Dave Ferguson
April 26, 2011

Engineering costs for many years have basically been included in the standard burden rate of the shop.  There are many situations now in this world where manufacturing is very competitive and technical that the standard burden rate of the shop...
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Material Estimating

By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011
, By Dave Ferguson
March 15, 2011

Material estimating can be simple to complex depending on the particular job you are estimating.   Raw material is a commodity which could include metal sheets, wood, bars, plastic, plates, block of metal, etc.  These items are purchased from a...
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Direct Labor Costs

By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011
, By Dave Ferguson
February 26, 2011

Direct labor costs are those costs which are performed during the production of some product.  The product can be any type of item from a machined part, computer and vehicle.  Labor is required to change a raw material into a product that may be...
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Manufacturing Costs

By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011
, By Dave Ferguson
February 15, 2011

Manufacturing costs consist of multiple elements which arrive at the full cost.  When estimating a product to be manufactured the entire costs are distributed between the following elements.
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Fixed and Variable Costs

By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011
, By Dave Ferguson
February 10, 2011

There are two main types of costs - fixed and variable.  If something is being manufactured, it consists of both fixed and variable costs.  Fixed costs are those that do not change based on a quantity.  This means the cost is fixed if you produce 1...
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Job Costing Software

By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011
, By Dave Ferguson
February 09, 2011

Job Costing has been around for many years to determine the cost of manufacturing a given product.  The process by which the expenses are record is costing.  Job costing software should make the process of recording the transaction simpler and not...
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Techniques for Cost Estimating

By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011
, By Dave Ferguson
February 08, 2011

The basic cost estimating techniques involve analyzing all factors that make up a cost estimate. The first technique I would follow is to go through the following steps, systematically, and costing each one out in detail. Once you have gone through...
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Cost Estimate Types

By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011
, By Dave Ferguson
February 02, 2011

There are different types of cost estimates including "Rough Approximation" of cost which can be a conceptual design, preliminary design and then a detailed estimate or quote.
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