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- How different businesses are using the technique Engineered estimate of cost to estimate cost of different areas?1. Describe five examples of items you would consider when determining the price of a proposed project1. What are the elements that you will consider while conducting STEEP analysis for a pharmaceutical company?
- Classification of Costs The following costs were taken from the accounting records of theBarnwell Manufacturing Company:1. State income taxes2. Insurance on the manufacturing facilities3. Supplies used in manufacturing4. Wages for employees in the assembly department5. Wages for employees who deliver the product to customers6. Interest on notes payable7. Materials used in the production process8. Rent for the sales outlet in Sacramento9. Electricity for manufacturing equipment10. Depreciation expense on delivery trucks11. Wages for the sales staff12. Factory supervisors’ salaries13. Company president’s salary14. Advertising expenseRequired Classify each item as either a product cost or a period cost. Also, classify all product costs asdirect or indirect, assuming that the cost object is each unit of product manufactured.Determine which factor of production is needed in the following problem. 1.The ABM manufacturing Co.hired a gardener.He uses a lawn mower for landscaping.Which factor of production would you consider this machine? 2.The owner of the company withdrew cash for the salaries of thw employees.which factor of production would you consider cash on hand? 3.The top manager of the firm said "the great ideas,consepts and emotional determination of a person to produce something that consumers want to buy" is very important for the company.What factor of production describes the ability to create great ideas? 4.The farmers planted pineapple cutting in the vacant area located in their locality.Which factor of production would you consider a pineapple plantation?8. Categorize the following costs as (a) direct, (b) project indirect, or (c) fixed overhead.• Labor• Materials• Main office rental• Tools and minor equipment• Field office• Performance bond• Sales tax• Main office utilities• Salaries of managers, clerical personnel, and estimators
- Classification of Costs The following is a list of costs from the accounting records of SunshinePool Management Inc. Each of Sunshine’s 77 customers is a swim club. Sunshine maintains eachcustomer’s pool by providing lifeguards, supplies, cleaning, and repairs.1. Lifesaving supplies2. Salaries of Sunshine’s managers3. Pool chemicals4. Sunshine’s office rental expense5. Wages of lifeguards6. Workers’ compensation insurance7. Training for lifeguards8. pH testing supplies9. Office expense, including bookkeeping and clerical10. Depreciation on cleaning and testing equipmentRequired Classify each item as direct or indirect assuming that the cost objects are each of the77 swim clubs.please give some insights and reflection about the "Significant Factors Causing Cost Overruns in the Construction Industry". Explain and elaborate, thank you...How can organizations prioritize and manage conflicting requirements during the analysis phase? What strategies can be employed to resolve such conflicts?