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WorksheetsEstimation & Costing Quiz
Total questions: 119
Worksheet time: 1hrs 10mins
The pre determination of the cost of article is termed as
Costing
Accounting
For filling up tenders enquiries ____________ is essential.
Costing
Estimation
The estimates are sent to the Sales Department for fixing up the
Cost
Profit
Cost estimates of different products in a plant is carried out by trained person called ___________
Planner
Designer
To help the factory owner in deciding the manufacturing and selling policies is called as ___________
Costing
Estimation
The Aim of Estimating the cost of an item is
To arrange the labour
To arrange for the money
An accurate estimating is very necessary to compete in the market, whether manufacture of particular article will be _________
profit
loss
Under-estimating leads to decrease the cost hence company may get __________
Gain
Profit
Over-estimating leads to increase the cost hence tenders may get _____________
cancel
approved
The estimator must posses one of the following quality
He should have degree in Arts
Should be the owner of industry
The sources of errors in estimation are ___________ and __________
Avoidable & unavoidable
Over estimation & under estimation
Costing is done __________ production
Before
After
Preparing detailed drawing according to the requirement of production shop is called as_______
Drafting time
Design time
The person who designing a particular product is called _______________
Tool Maker
Inspector
The person who preparing the detail drawing of particular product is called _______________
Tool Maker
Draftman
The time consumed to attend his personal needs are called as ____
allowance
Machine
Labour
The time counted from when the last element of operation has been completed is calles as _________
Set up time
Personal Time
Personal allowance is the time consumed for
Going to toilet
Loading job on M/c
The time required for setting and fixing the job is ________
Setup time
Tear down time
Handling time + Machining time is ____________
Total time
Setting time
Fatigue allowance comes under ___________
Tear down time
Experimental time
Personal allowance comes under ____________
Operator allowance
Regrinding allowance
Checking allowance comes under _____________
Inspection allowance
Miscellaneous allowance
Personal allowance is generally ______________
5 – 8%
10 – 12%
Fatigue allowance is generally ______________
0.02
0.04
Tool changing and grinding allowance _____________
5 – 10%
15 – 20%
Measurement and checking allowance is generally __________
2 – 5%
2 – 30%
Reduction in efficiency due to headache cold and other minor illness is _______________
Fatigue allowance
Personal allowance
Reduction in efficiency due to headache due to tiredness comes under
Personal allowance
Fatigue allowance
Time required for sharpening tool is ___________
Knife allowance
Tool changing and regrinding allowance
Operational time includes handling time and ____________ time.
Regrinding
Machining
Material for punch and die
Indirect material
Direct material
Milling machine operator is
Indirect labour
Direct labour
Coolant required for cooling the cutter comes under
Direct material
Indirect material
Direct labour is also called as
Productive labour
Overhead
Expenses such as Rent, Insurance comes under ______________
Prime cost
Direct Expenses
Wages payable to an operator per hour of labour is termed as
Direct labour cost
Expenses
Productive labour is also called as
Direct labour
Indirect labour
Supervisor comes under
Direct labour
Effective labour
Sales manager comes under
Productive labour
Direct labour
EDM operator comes under
Direct labour
Indirect labour
Office accountant comes under
Direct labour
Indirect labour
High-speed steel used to manufacture milling cutters is _____________
Direct material
Indirect material
Prime cost is determined by adding _____________ cost
All direct cost
All indirect cost
The sum of total cost and profit is called as
Selling Price
Office cost
It is the sum of direct labour, direct material and direct expenses is called as
Prime cost
Preliminary cost
Selling price of a product manufactured in the factory is determined by the sum of _________
Fixed cost and profit
Production cost and profit
If the profit of a factory is added to the total cost of the product it is called
Total cost
Factory cost
Cost of lubricant, oil, cotton waste comes under
Administrative over head
Factory over head
Advertisement expenses comes under
Sales distribution over head
Office over head
Indirect material + Indirect labour + Indirect expenses = ______
Sales cost
Product cost
Direct material + Direct labour + Direct expenses = ________
Prime cost
Preliminary cost
Factory cost = Prime cost + __________
Factory over head
Administrative over head
Office cost = Factory cost + __________
Factory over head
Administrative over head
Selling price = Total cost + __________
Loss
Profit
The amount kept aside from the profit for replacing machine is
Capital investment fund
Depreciation fund
As the machine or asset becomes old, its maintenance cost and repair charges
Gradually increases
Gradually decreases
Any asset loosing its value because of new invention is known as
Capital loss
Depreciation
Straight line method is to find __________
Obsolescence
Depreciation
M/c hour rate calculation is related to _________
Energy cost
space cost
Scrap value is used to find ___________
Material cost
Over head
Interest on capital is related to _________
Material cost
Machine hour rate
Replacement value is to find _________
Depreciation
Prime cost
Productive working hour/year
2500
3500
Annuity method is used for finding out
Material cost
Labour cost
The rate of the total overheads to the total productive machine hours
Energy cost
space cost
Method of calculating depreciation is ________
Functional Depreciation
Physical Depreciation
Capital cost is charged to the same amount we get if that capital is deposited in the bank is ___________
Scrap value
Rate of interest
oiling, cleaning, replacement of worn out parts is comes under ____________
t is charged to the same amount we get if that capital is deposited in the bank is ___________
Scrap value
Rate of interest
oiling, cleaning, replacement of worn out parts is comes under __________
Scrap value
Maintenance cost
Fast method but only rough estimate can be done is ___.
Rough method
Cost centre method
Systematic method but highly time consuming is ___.
Rough method
Cost centre method
Very very quick method scientific in nature for estimation is ____________
Rough method
Cost centre method
In Nttf method , only ___________ drawing is enough to estimate the tool.
Detail Drawing
Tool design
In Nttf method , only ___________ tool can be estimated.
Jigs
Fixtures
In ___________ method estimation is directly related to costing
Rough method
Cost centre method
Estimator should have thorough knowledge of time estimation in ___ method.
Rough method
Cost centre method
Standard estimation sheet is used for ___
Costing
Estimation
In ___ method the estimator need not know the tool design aspect.
Rough method
Cost centre method
Weight of the material = Volume x Density
The charges are fixed by estimating the approximate number of hours required for the trials
Inspection charges
Design charges
In ___________ method estimation is directly not related to costing
Rough method
Cost centre method
The sheet which is used for estimating gauges,jigs,fixtures,press tools and moulds is ________
Standard costing sheet
Standard estimation sheet
The charge is divided by the number of hours required for inspecting the tool completely including the time required for stage inspection
Assembly charges
Trial charges
In ___ method the tool drawing is required.
Rough
NTTF
The word ___ refers to a die that performs only one operation either as an independent die or as one stage In co-operated in a progressive tool.
Press
Basic
The ___ are given for big tools, high precision tools and other extras.
Fatigue allowance
Personal allowance
The time data for basic dies are given for a tool size up to ___ working surface.
250mm
300mm
The sum of various basic dies in a progressive tool may be called
Basic die
Basic tool
Punch and die will be made of ___ steel.
MS
Plastic
Typical Allowance for a basic Die is _____________
Sheet thickness very thin
Handling of heavy die set
Typical Allowance for a basic Tool is _____________
Profiles ground or sparked die openings
Very small die apertures
The tool cost = ________________ time (h) x rate (Rs/h)
Tool room may assign an average value for the machining and manual operation is ____________ method
Trail method
Standard method
Estimation of the cost of injection mould, compression mould, transfer mould or die casting dies can be done in the _________________
Standard quotation sheet
standard Tender form
Dimension for raw material is given based on the ___________
Experience
Calculation
If manufacturing cost is Rs 24,800 , Determine the Design cost ? Assume design cost = 10% of manufacturing cost .
2480
2400
If manufacturing cost is Rs 24,800 , Determine the polishing charge ? Assume polishing cost = 3% of manufacturing cost .
6878
841
If manufacturing cost is Rs 24,800 , Determine the trial charge ? Assume trail cost = 5% of manufacturing cost .
1200
1000
The time consumed in designing the particular jig & fixture is considered as ___________ charge
Inspection charge
Assembly charge
The time consumed for inspecting the particular jig & fixture is considered as ___________ charge
Inspection charge
Assembly charge
The time consumed for assembling the particular jig & fixture is considered as ___________ charge
Inspection charge
Assembly charge
The substance from which the product is made is called
Mould
Raw material
Raw material cost is a point considered in finding ___
Component cost
Amortisation cost
Landed cost = Market price + Taxes + Transport + Inventory
Market price + Transport + Inventory – Taxes
Labour cost = Shift rate / no. of components produced per hour
Cost of the tool spread over no. of components is called
Cleaning cost
Shearing cost
Density of steel 8.7gm/cc 9.2gm/cc
Which charges are charged for plating the components to protect the surface.
Shearing cost
Blanking cost
Which cost is difficult to charge over each component, specially if the components are very small
Shearing cost
Cleaning cost
If the cycle time of a 2-cavity inj. Mould is 20 sec. How many components will be produced in 1 hour?
500 components
480 components
Time between the outputs of two consecutive units of production is called
Shift
Cycle time
The cost which is incurred on shearing the sheet metal into strips
Cleaning cost
Shearing cost
Calculate the no. of components produced in a shift of 8hrs, if a press runs at 60 strokes/min and utilizes its 40%
11000 components
11520 components
If the shot weight is 105g and each component weighs 25g. How many cavities does the mould loaded have
5 cavity
4 cavity
4 lakhs of components are produced in 2 yrs. Find the amortisation cost for a period of 1 yr if the mould cost is Rs20000
10 paisa
1 paisa
Find the labour cost, if the cycle time of a 2-cavity mould is 25sec and the shift rate is Rs100
40 paisa
4 paisa
The basic tool total hours is 150hrs and the tool cost/hr is Rs175. Find the basic tool cost
Rs26250
Rs262.5
Surface finishing cost can be charged either on area basis or on ___ basis.
Time
Weight
