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Cost Of Production
Manufacturing cost is the sum of costs of all resources consumed in the process of making a product. The manufacturing cost is classified into three categories: direct materials cost, direct labor cost and manufacturing overhead. It is a factor in total delivery cost. Direct materials cost Direct materials are the raw materials that become a part of the finished product. Manufacturing adds value to raw materials by applying a chain of operations to maintain a deliverable product. There are many operations that can be applied to raw materials such as welding, cutting and painting. It is important to differentiate between direct materials and indirect materials. Direct labour cost The direct labour cost is the cost of workers who can be easily identified with the unit of production. Types of labour who are considered to be part of the direct labour cost are the assembly workers on an assembly line. Manufacturing overhead Manufacturing overhead is any manufacturing cost th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Direct Materials Cost
Direct may refer to: Mathematics * Directed set, in order theory * Direct limit of (pre), sheaves * Direct sum of modules In abstract algebra, the direct sum is a construction which combines several modules into a new, larger module. The direct sum of modules is the smallest module which contains the given modules as submodules with no "unnecessary" constraints, m ..., a construction in abstract algebra which combines several vector spaces Computing * Direct access (other), a method of accessing data in a database * Direct connect (other), various methods of telecommunications and computer networking * Direct memory access, access to memory by hardware subsystems independently of the CPU Entertainment * ''Direct'' (Tower of Power album) * ''Direct'' (Vangelis album) * ''Direct'' (EP), by The 77s Other uses * Direct (music symbol), a music symbol used in music notation that is similar to a catchword in literature * Nintendo Direct, an onli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labor Cost
Labour or labor may refer to: * Childbirth, the delivery of a baby * Labour (human activity), or work ** Manual labour, physical work ** Wage labour, a socioeconomic relationship between a worker and an employer ** Organized labour and the labour movement, consisting principally of labour unions ** Labour Party or Labor Party, a name used by several political parties Literature * ''Labor'' (journal), an American quarterly on the history of the labor movement * '' Labour/Le Travail'', an academic journal focusing on the Canadian labour movement * ''Labor'' (Tolstoy book) or ''The Triumph of the Farmer or Industry and Parasitism'' (1888) Places * La Labor, Honduras * Labor, Koper, Slovenia Other uses * ''Labour'' (song), 2023 single by Paris Paloma * ''Labor'' (album), a 2013 album by MEN * Labor (area), a Spanish customary unit * "Labor", an episode of TV series '' Superstore'' * Labour (constituency), a functional constituency in Hong Kong elections * Labors, fictio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overhead (business)
In business, an overhead or overhead expense is an ongoing expense of operating a business. Overheads are the expenditure which cannot be conveniently traced to or identified with any particular revenue unit, unlike operating expenses such as raw material and labor. Overheads cannot be immediately associated with the products or services being offered, and so do not directly generate profits. However, they are still vital to business operations as they provide critical support for the business to carry out profit making activities. One example would be the rent for a factory, which allows workers to manufacture products which can then be sold for a profit. Such expenses are incurred for output generally and not for particular work order; e.g., wages paid to watch and ward staff, heating and lighting expenses of factory, etc. Overheads are an important cost element, alongside direct materials and direct labor. Overheads are often related to accounting concepts such as fixed costs and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Total Delivery Cost
Total Delivered Cost (TDC) is the amount of money it takes for a company to manufacture and deliver a product. Its components are: *Total Manufacturing Cost: Costs incurred up to and inclusive of the production of finished and wrapped pallets or unit loads, fit for introduction into the warehousing and distribution chain. *Product Supply Non-Manufacturing Expense: Administrative and developmental costs associated with the purchase of materials, engineering, design A design is the concept or proposal for an object, process, or system. The word ''design'' refers to something that is or has been intentionally created by a thinking agent, and is sometimes used to refer to the inherent nature of something ... of a plant worthy production process, and administrative costs required to manage it. *Finished Product Logistics Costs: Costs incurred from the entry of finished, wrapped pallets, or unit loads to the warehousing and distribution chain, until delivery of cases to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Raw Material
A raw material, also known as a feedstock, unprocessed material, or primary commodity, is a basic material that is used to produce goods, finished goods, energy, or intermediate materials/Intermediate goods that are feedstock for future finished products. As feedstock, the term connotes these materials are bottleneck assets and are required to produce other products. The term raw material denotes materials in unprocessed or minimally processed states such as raw latex, crude oil, cotton, coal, raw biomass, iron ore, plastic, air, lumber, logs, and water. The term secondary raw material denotes waste material which has been recycled and injected back into use as productive material. Raw material in supply chain Supply chains typically begin with the acquisition or extraction of raw materials. For example, the European Commission notes that food supply chains commence in the agricultural phase of food production. A 2022 report on changes affecting international trade noted that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Welding
Welding is a fabrication (metal), fabrication process that joins materials, usually metals or thermoplastics, primarily by using high temperature to melting, melt the parts together and allow them to cool, causing Fusion welding, fusion. Common alternative methods include solvent welding (of thermoplastics) using chemicals to melt materials being bonded without heat, and #Solid-state welding, solid-state welding processes which bond without melting, such as pressure, cold welding, and diffusion bonding. Metal welding is distinct from lower temperature bonding techniques such as brazing and soldering, which do not melt the base metal (parent metal) and instead require flowing a filler metal to solidify their bonds. In addition to melting the base metal in welding, a filler material is typically added to the joint to form a pool of molten material (the weld pool) that cools to form a joint that can be stronger than the base material. Welding also requires a form of shield to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Painting
Painting is a Visual arts, visual art, which is characterized by the practice of applying paint, pigment, color or other medium to a solid surface (called "matrix" or "Support (art), support"). The medium is commonly applied to the base with a brush. Other implements, such as palette knives, sponges, airbrushes, the artist's fingers, or even a dripping technique that uses gravity may be used. One who produces paintings is called a painter. In art, the term "painting" describes both the act and the result of the action (the final work is called "a painting"). The support for paintings includes such surfaces as walls, paper, canvas, wood, glass, lacquer, pottery, leaf, copper and concrete, and the painting may incorporate other materials, in single or multiple form, including sand, clay, paper, cardboard, newspaper, plaster, gold leaf, and even entire objects. Painting is an important form of visual arts, visual art, bringing in elements such as drawing, Composition (visual art ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assembly Line
An assembly line, often called ''progressive assembly'', is a manufacturing process where the unfinished product moves in a direct line from workstation to workstation, with parts added in sequence until the final product is completed. By mechanically moving parts to workstations and transferring the unfinished product from one workstation to another, a finished product can be assembled faster and with less labor than having workers carry parts to a stationary product. Assembly lines are common methods of assembling complex items such as automobiles and other transportation equipment, household appliances and Consumer electronics, electronic goods. Workers in charge of the works of assembly line are called assemblers. Concepts Assembly lines are designed for the sequential organization of workers, tools or machines, and parts. The motion of workers is minimized to the extent possible. All parts or assemblies are handled either by conveyors or motorized vehicles such as forklif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Material Handling
Material handling involves short-distance movement within the confines of a building or between a building and a transportation vehicle. It uses a wide range of manual, semi-automated, and automated equipment and includes consideration of the protection, storage, and control of materials throughout their manufacturing, warehousing, distribution, consumption, and disposal. Material handling can be used to create ''time and place utility'' through the handling, storage, and control of waste, as distinct from manufacturing, which creates ''form utility'' by changing the shape, form, and makeup of material. Role Material handling plays an important role in manufacturing and logistics. Almost every item of physical commerce has been transported on a conveyor or lift truck or another type of material handling equipment in manufacturing plants, warehouses, and retail stores. While material handling is usually required as part of every production worker's job, over 650,000 people in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grease (lubricant)
Grease is a solid or semisolid lubricant formed as a dispersion of thickening agents in a liquid lubricant. Grease generally consists of a soap emulsified with mineral or vegetable oil. A common feature of greases is that they possess high initial viscosities, which upon the application of shear, drop to give the effect of an oil-lubricated bearing of approximately the same viscosity as the base oil used in the grease. This change in viscosity is called shear thinning. Grease is sometimes used to describe lubricating materials that are simply soft solids or high viscosity liquids, but these materials do not exhibit the shear-thinning properties characteristic of the classical grease. For example, petroleum jellies such as Vaseline are not generally classified as greases. Greases are applied to mechanisms that can be lubricated only infrequently and where a lubricating oil would not stay in position. They also act as sealants to prevent the ingress of water and incompressible ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Water
Water is an inorganic compound with the chemical formula . It is a transparent, tasteless, odorless, and Color of water, nearly colorless chemical substance. It is the main constituent of Earth's hydrosphere and the fluids of all known living organisms (in which it acts as a solvent). It is vital for all known forms of life, despite not providing food energy or organic micronutrients. Its chemical formula, , indicates that each of its molecules contains one oxygen and two hydrogen atoms, connected by covalent bonds. The hydrogen atoms are attached to the oxygen atom at an angle of 104.45°. In liquid form, is also called "water" at standard temperature and pressure. Because Earth's environment is relatively close to water's triple point, water exists on Earth as a solid, a liquid, and a gas. It forms precipitation in the form of rain and aerosols in the form of fog. Clouds consist of suspended droplets of water and ice, its solid state. When finely divided, crystalline ice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Rent
In economics, economic rent is any payment to the owner of a factor of production in excess of the costs needed to bring that factor into production. In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location (land) and for assets formed by creating official privilege over natural opportunities (e.g., patents). In the moral economy of neoclassical economics, assuming the market is natural, and does not come about by state and social contrivance, economic rent includes income gained by labor or state beneficiaries or other "contrived" exclusivity, such as labor guilds and unofficial corruption. Overview In the moral economy of the economics tradition broadly, economic rent is distinct from producer surplus, or normal profit, both of which are theorized to involve productive human action. Economic rent is also independent of opportunity cost, unlike economic profit, where opportunity co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
