Engineering Management

What is the equation for profit

What is the equation for sales income (S) ?

What is the equation for total variable cost (CV)?

Profit depends on the sales, what is an equation relating sales and profit?

What are the equations for loss?

What is the equation for loss with no sales?

The value of change of loss with quantity

Breaking even equations

Break even quantity (Qo) is equalled to?

Break even selling price for a given quantity.

Weekly profit formulae?

Total absorption cost formula (Cta)

Profit margin formulae

Percentage profit margin

Selling price at a fixed percentage profit margin.

Selling price at a given profit margin

Manager's Top priorities

Direct costs

Indirect costs.

Overhead

FIFO Advantages and disadvantages.

FIFO definition.

LIFO advantages and disadvantages.

LIFO

Replacement cost

What is Replacement cost sometimes referred to as?

Effect of replacement costing on value of stock.

Average cost.

Standard cost

Allocation of overheads. Fractional allocation

Fixed cost.

Variable cost.

Interest only Loan equation.

Monthly repayment of interest only loans

Central purchasing department. Advantages.

Central purchasing department. Disadvantages.

What is Tendering?

Types of tender: Fixed price.

Types of tender: Cost Plus.

Types of tender: mixture of fixed price and cost plus.

An Engineers role limited to technical roles: discussion.

Most of the priorities will be common to all managers. The ones that may be more closely associated with an engineering manager might be:

3 registered categories OF Engineer

Overhead allocation plans:

Examples of where you would use absorption costing (full overheads).

Examples on when marginal costing is necessary.

Marginal costing vs Absorption costing.

Top ten priorities for Manager (Descriptive.)

Chartered Engineer. Qualifications and knowledge.

Incorporated Engineer. Knowledge and qualifications.

Engineering Technician. Knowledge and qualifications.