Sample Product Costing Essay

412 words - 2 pages

For purposes of this assignment, I have decided to use the Company that installed CCTVs in our home.

Waidel Automation is engaged in selling of weighing scale and in selling DVR and cameras including installation. The owner is a family friend that is why the price we paid was also the total cost incurred without any mark-up. Based on the delivery reports and service reports I have gathered, the total costs we paid were summarized as follows:

Direct Materials:

Quantity | Unit cost | Description | Amount |
1 unit | 22,000.00 | 16 Channel DVR (2016) | P22,000.00 |
1 piece | 3,300.00 | ...view middle of the document...

00 |
1 piece | 20.00 | F-Plug Connector | 20.00 |
2 pieces | 15.00 | F-Plug Socket | 30.00 |
13 pieces | 300.00 | Power Supply Casing (Small/Cream) | 3,900.00 |
333 meters | 8.00 | TCT RG-6 Coaxial Cable | 2,664.00 |
189 meters | 15.00 | #18 Flatcord Cable | 2,835.00 |
1 piece | 600.00 | VGA Cable | 600.00 |
19 meters | 30.00 | CAT5 Network Cable | 570.00 |
1 lot | 5,000 | Materials | 5,000.00 |
| | | |
| | | P105,959.00 |

Direct Labor:

Quantity | Unit cost | Description | Amount |
1 Lot* | 17,500 | Labor and mobilization | P17,500 |
| | | |

* Per delivery receipt, this consists of 9 persons for 7 days. Thus the rate per person is P277.78 per day.

Overhead:

Quantity | Unit cost | Description | Amount |
1 Lot* | | Overhead and other related expenses | P6,700.00 |
| | | |

* Per delivery receipt, this consists of 9 persons for 7 days. Thus the rate per person is P106.35 per day.

Total Cost:

Direct Materials | P105,959.00 |
Direct Labor | 17,500.00 |
Overhead | 6,700.00 |
| |
| P130,159.00 |

Price:

Total Cost | P130,159.00 |
Profit Margin (@ 22%)** | 36,711.51 |
| |
Price | P166,870.51 |

**Since we have paid only the cost without margin, I have inquired from the owner on how he will price the job if would be offered to regular customers. For this job requiring 14 units of cameras, this job has a price of P166,870.51.

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