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Costing is the process of estimating the expenses involved in the design and production of a product.
Costing involves analyzing all the components and processes required to manufacture a product
It includes materials, labor, overhead costs, and any other expenses
Costing helps in determining the selling price of a product and ensuring profitability
Costing can vary based on the complexity of the design and the quantity of
Factors to consider for costing include materials, labor, overhead, profit margin, and market demand.
Materials cost - consider the cost of raw materials needed for production
Labor cost - factor in the cost of labor required to manufacture the product
Overhead cost - include overhead expenses such as utilities, rent, and equipment maintenance
Profit margin - determine the desired profit margin for the product
Market demand...
The target for stamping cost for minimum tonnage is typically set based on the material, complexity of the part, and production volume.
Consider the material cost and type of material being used for stamping.
Evaluate the complexity of the part being stamped, as more complex parts may require higher tonnage and therefore higher costs.
Take into account the production volume, as higher volumes may allow for economies of sc...
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I applied via Campus Placement and was interviewed before May 2023. There were 2 interview rounds.
MHR stands for Maximum Heart Rate, which is the highest heart rate a person can achieve during exercise.
MHR is typically calculated using the formula: 220 - age
For example, the MHR for a 30-year-old person would be 190 beats per minute (220 - 30)
MHR is used to determine target heart rate zones for exercise intensity
I applied via LinkedIn and was interviewed before Mar 2023. There was 1 interview round.
Cost breakup strategy involves analyzing and categorizing all costs associated with a project or product.
Identify all direct and indirect costs related to the project or product
Categorize costs into materials, labor, overhead, and other expenses
Analyze cost drivers to understand the factors influencing costs
Allocate costs based on activity-based costing or other methods
Regularly review and update cost breakdown to ensu
Yes, I can do bottom up costing by breaking down the cost of each individual component or process involved in a project.
Break down the cost of each individual component or process involved in a project
Calculate the cost of materials, labor, overhead, and any other expenses for each component
Sum up the costs of all components to get the total project cost
Use this detailed costing to make informed decisions and optimize
A costing template process involves gathering cost data, analyzing expenses, and creating a structured format for cost estimation.
Gather all relevant cost data including materials, labor, overhead, and other expenses
Analyze the cost data to determine the cost drivers and factors affecting the overall cost
Create a structured template with sections for each cost component and formulas for calculation
Include provisions fo...
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