what is the meaning of machinery cost
What is machine hour? definition and meaning ...
Definition of machine hour: One machine working for one hour. In cost accounting, machine hour (and not the labor hour) is used for applying overhead costs to workin .
4 Examples of the Efficiency Formula Simplicable
Jun 27, 2017· Machine Efficiency. Machine efficiency can be measured in terms of energy efficiency or the productive results of equipment. The latter approach uses the value of outputs and cost of inputs. In a month, a drilling machine takes inputs such as labor, electricity, materials and depreciation on the machine itself that cost 50,000 dollars.
What is Incremental Cost? definition and meaning ...
Besides, in the long where firm expands its production hires more manpower, material, machine and equipment, the expenditure incurred on these factors are the incremental cost and not the marginal cost. The firm incurs the incremental cost when it undertakes any of the activities: changing the product line, introducing a new product, replacing ...
Contract costing | Meaning | Features | Procedure – Money ...
4. Plant and Machinery. The plant and machinery is treated in two ways. Under first method, the full value of plant and machinery is debited in the concerned contract account if the plant and machinery is specifically purchased for the contract. At the end of contract, the plant and machinery may be sold out in the market if it is not required ...
The Quadruple Aim: care, health, cost and meaning in work ...
In 2008, Donald Berwick and colleagues provided a framework for the delivery of high value care in the USA, the Triple Aim, that is centred around three overarching goals: improving the individual experience of care; improving the health of populations; and reducing the per capita cost of The intent is that the Triple Aim will guide the redesign of healthcare systems and the ...
Machinery of government Wikipedia
Total costs associated with issuing new Administrative Arrangements Orders are unknown, as the costs involved with machinery of government changes are not collated or reported, but in November 2013 the Secretary of the Department of Immigration and Border Protection told a Senate estimates hearing that the cost of the Department's name change was cheap at 'only' an estimated 195,000.
Ch 8 Analyzing Other Direct Costs
Cost allocation. An other direct cost is often the type of cost that the firm would normally charge as an indirect cost, but the proposed contract requires a large, unusual, or onetime expenditure (, special tooling) that will benefit only the proposed contract.
CAPITAL REPLACEMENT DEFINITION VentureLine
CAPITAL REPLACEMENT Definition. CAPITAL REPLACEMENT, or economic depreciation, is the portion of the value of machinery and equipment, in addition to repairs, that is used up in the production of a particular commodity. It is based on the current value of the machinery. Capital replacement may be regarded as a discretionary expense in any ...
office equipment definition and meaning | AccountingCoach
office equipment definition. A longterm asset account reported on the balance sheet under the heading of property, plant, and equipment. Included in this account .
Meaning of cost | Infoplease
— n., v., cost cost•ed, cost•ing. money allowed to a successful party in a lawsuit in compensation for legal expenses incurred, chargeable to the unsuccessful party. money due to a court or one of its officers for services in a cause. regardless of the effort involved; by any means necessary ...
Cost Control | Meaning | Characteristics | Steps | Advantages
If so, out of control situations may be find out and eliminated immediately, with the help of cost control, the executives can limit the costs within the planned level. Cost Control – Meaning, Characteristics, Steps, Advantages
Mechanization of Production | Article about Mechanization ...
Mechanization of Production. replacement of manual implements of labor in sectors of material production or in labor processes with machines and mechanisms using various types of power and traction for their operation. Mechanization of production also covers the sphere of mental labor.
office equipment definition and meaning | AccountingCoach
office equipment definition. A longterm asset account reported on the balance sheet under the heading of property, plant, and equipment. Included in this account would be copiers, computers, printers, fax machines, etc.
What is the definition of cost basis? TurboTax® Support
Dec 04, 2018· What is the definition of cost basis? Cost basis is the original purchase cost of an asset (such as stocks, bonds, or property), plus any adjustments that result from transactions over the period you own the asset. Examples of adjustments would be an increase in valuation due to a property improvement or a decrease in valuation due to ...
what is net benefit? how to calculate it.? | Yahoo Answers
Oct 22, 2007· Answers. The machine will save your company over 15,000 per month, almost 190,000 a year. This is just one example of how you can use cost benefit analysis determine the advisability of a course of action and then to support it once you propose the action.
Legitimize Avoided Cost, Opportunity Cost in the Business Case
Cost savings, avoided cost, and opportunity cost are relative terms, having meaning only when comparing one outcome to another. All carry useful information for business analysis and decision support for those who understand them and use them correctly. Example calculations illustrate these .
Meaning and Different Types of Assets | Classification More
Assets are classified into different types based on their convertibility to cash; use in business or basis their physical existence. Assets are a part of the balance sheet and are stated at historical cost less depreciation deducted so far or at cost or at cost or market value, whichever is .
What is the meaning of employer cost to calculate labour ...
The employer's Cost to calculate labour Cess: As per section 3(1) of the BOCW Cess Rules, 1996, the cess is to be paid by an employer who incurs the cost of construction on the notified rate by the Central Government. Vide notificatin dt., the Central Govt stipulated the rate of cess as 1% of the cost of construction.
Concept of Cost of Production Definition and Meaning ...
Concept of Cost of Production: Definition and Meaning: By "Cost of Production" is meant the total sum of money required for the production of a specific quantity of output. In the word of Gulhrie and Wallace: "In Economics, cost of production has a special meaning. It is all of the payments or expenditures necessary to obtain the factors of production of land, labor, capital and management ...
Guide to machinery costs and contract rates
When you own your own machinery, the ownership costs are spread over the amount of work you do. In our example (see Table 1) the ownership cost for the tractor is 12,472 a year. If the tractor works 1,000 hours a year, the ownership costs (overheads) are spread over .
Thresher | farm machine |
Thresher: Thresher, farm machine for separating wheat, peas, soybeans, and other small grain and seed crops from their chaff and straw. Primitive threshing methods involved beating by hand with a flail or trampling by animal hooves. An early threshing machine, patented in 1837 by Hiram A. and John A. Pitts
