Describe your plan or countermeasures, regarding to developing a Cost Estimating Relationship, as an engineer in...

70.2K

Verified Solution

Question

Mechanical Engineering

Describe your plan or countermeasures, regarding to developing aCost Estimating Relationship, as an engineer in controlling theeffects/impacts given by the following items from the perspectiveof Engineering Economics
- Direct labor hours
-. Machine hours
-. Number of units
-. Number of production runs
-. Number of orders

Answer & Explanation Solved by verified expert

3.9 Ratings (744 Votes)

I will give you the points required to answer this question simply by starting with the influence of each factor on Industrial Engineering it will give you an idea on optimization and cost analysis Direct labor refers to the salaries and wages paid to workers who are directly involved in the manufacture of a specific product or in performing a service For example a business that provides services to its customers direct labor is the work performed by the workers who provide the service directly to the customers such as store workers lawyers etc Calculating labor hours is important since it is a dependent factor of cost estimation and The direct labor hours are the number of direct labor hours needed to produce one unit of a product See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member