Prepared by :Romana Ahmed
ASSESSMENT FRONT SHEET
STUDENT NAME: Md.Tanvir Ahamed
College: United college of aviation Science And Management
Program: BTEC NATIONAL DIPLOMA IN AEROSPACE ENGINEERING
Unit 1: Business Management Techniques.
Assessor: Romana Ahmed
Title: Costing systems and techniques
Learning Outcomes/Contents.2. Select and apply costing systems and techniques
Grading CriteriaP1:Identify and describe appropriate costing systems and techniques for Specific engineering business functions. P2:Measure and evaluate the impact of changing activity levels on Engineering business performanceM1: Evaluate the importance and possible effect of the Engineering Business functions that directly impact on an engineering company.D1: Explain how the cost effectiveness of an engineering activity could be improved.
Assessors FeedbackDecision sampled I.V. date:
This assignment develops the knowledge and understanding of the functions, structures and interrelationships of an engineering business and applies the skills of costing, financial planning and control associated with engineered products or services.
You will learn to: -
* Identify an appropriate costing systems and techniques for specific engineering business functions. * Measure and evaluate the break-even point and profit and losses. * Find out the impact of changing activity of engineering functions on costing.
The assignment is to be attempted by completion of all tasks listed in the assignment sheet.
Assignment Write Up
The following should be included in your write up:
1. Answers to all questions, written in your own words.
2. Experimental results, tables and fully labeled diagrams, produced either by hand, or using suitable software.
Additional Students Notes:
1. Any non-original material submitted as part of an assignment should be identified as such and listed in a bibliography at the end.
Task 1: identifying and describing appropriate costing systems (P1)
You will identify and describe appropriate costing systems (e.g. job costing, process costing, contract costing, etc) and Techniques (e.g. absorption, marginal, activity-based, etc) for specific engineering business functions.
What is costing systems? And explain why it is necessary for engineering company?
Identify an appropriate costing system and a costing technique for your company and calculate the cost per unit for your product/service.
Explain why you have chosen this costing system and techniques for your company.
Task 2: Measurement and evaluation the impact of changing activity levels
Suppose you have analyzed of your company’s fixed and overhead costs which together amount to 270000$ whilst the variable costs of you product’s amount to 20$ per unit manufactured. Construct a break- even chart and use this to determine:
a) the break-even production volume when the product is sold at: 1. 25$ per unit;
2. 32$ per unit;
3. 38$ per unit;
b) The profit for a production quantity of 30000 units if the selling price is 35$ per unit.
Write a short description on the impact of changing activity levels of engineering business functions on costs.
Task 1: Identifying and describing appropriate costing systems (P1)
Q.No.01.What is costing system? And explain why it necessary for engineering company?
Any modern business enterprise needs to have in place...
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