There is no industry which can not relay on estimation, all industries needs estimation.
The two primary categories of this profession are construction and manufacturing, according to the Bureau of Labor Statistics. It states that more than half of all cost estimators work in the construction industry, where they may further specialize in projects for homes, businesses, industries, or the government.
Cost estimation aids in setting the project budget, planning the required work, and managing new resources. Cost estimates are also of the utmost importance when trying to win over new clients. Before starting actual building, property owners also utilize cost estimates to evaluate the viability of their projects.
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Answer:
$480,000
Explanation:
The computation of the total manufacturing costs for Job No. 305 is shown below:
= Direct material cost + direct labor cost + manufacturing overhead cost
where,
Direct material cost = $180,000
Direct labor cost is
= $200,000 ÷ 200% × 100%
= $100,000
And, the manufacturing overhead cost is $200,000
So, the total manufacturing overhead is
= $180,000 + $100,000 + $200,000
= $480,000
Answer:
number of products to be purchased
Explanation:
A purchase order is prepared by a customer and addressed to a trader. The document instructs the trader to supply the customer with the goods stated in the purchase order document.
Before a customer writes the purchase order, an agreement is made on the quantity to be ordered. The trader has to confirm that they have the required quantity in the stores, or it will be availed within a reasonable time.
The price is agreed at the quotation stage. The customer first sends an inquiry, which the customer responds to with a quotation.
Answer:
My dream business is organic poultry farming.
Explanation:
It is my hobby to have different types of hen breeds. So I would like to invest in my hobby. I would like to have breeds of organic hens that will lay more eggs. I will also invest in fancy chickens which are widely used as pet in backyards.
It has great potential for growth, as people are nowadays moving towards organic foods. The organic poultry market has grown from $7.5 billions to $7.7 billions from 2019 to 2020. The growth recorded is almost 2% despite the breakout of virus. People would like to buy fancy chickens as pets because they lay eggs and look cute in the backyards.
The return on fancy chicken breed is much higher than an ordinary chicken breed that only lays egg. I will start from 1500 baby chickens and will around 50 chicken tractors in a large 8 kanal area. This chicken tractors will help me to keep the death rate of the chickens low and are helpful in lowering the spread of diseases. Furthermore, it is moveable which means my chickens will have fresh grass to eat.
I will buy a small van that will be helpful in managing the delivery of food requirement and egg supply to my customers. To lower the cost of organic feed I will grow many types of plants, herbs, grass, etc in the 8 kanal area that will meet the protien requirements of the chickens. I will also water the land daily so that the waste of the chickens are accessed very quickly to plants.
Their many other tactics that could be used like leasing the land for 2 years because it will lower the investment required, plantation of plants that will grow its value over time, use of thick sheets that will protect chickens from and use of thin sheet that will protect them from mosquitos, etc.
<em>Note:</em> <u>I wasn't able to access complete questions so I think the above explanation of business idea will be very helpful for you to construct a business plan.</u>
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