Product costing -- From Engineer's point of view

Ashok Khopkar

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This course format is where trainer will explain you the subject via online live session. Date and time are not decided yet but it will be planned within next 2 weeks after you enroll & pay for this course. Get in touch with our team if any clarification is required.

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What you’ll learn

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What you'll learn

What will you learn --

  1. Parameters required for costing and their source 
  2.  Which parameters are from engineering department  
  3. Importance of calculating Machining/Process time   
  4. Importance of Machine / Equipment hour rate 
  5. Making a cost sheet in simple format 
  6. Need to update cost sheet, dynamic costing 
  7. Intro to Should costing, Will costing

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Key topics covered

Key topics covered, will be

  • Why is costing required 
  • Which products need it 
  • When is it done 
  • Whose responsibility is it 
  • What role engineers play 
  • How accurate can it be 
  • What is the step by step process
  • Who provides the data

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Course Details

This course helps in understanding the process of manufacturing cost calculation of products manufactured using various types of machine tools.

This knowledge is very essential for all who are associated with manufacturing activities in any capacity, Viz  

  • Persons whose job function covers product costing  
  • Engineers responsible for production related activities 
  • Purchase / vendor development engineers 
  • Middle level managers responsible for day to day smooth operation of manufacturing activities within budgeted costs. 
  • Fresh engineers looking for job. This course will improve their employability. 
  • Owners / Directors of small scale industries 
  • Final year students of engineering colleges.   
  • Persons planning for start up
  • All those who understand importance of costing


This knowledge will further help in cost analysis and possibility of cost reduction improving marketability of their products. Suggestions for cost reduction without hampering quality are always welcome by companies and are rewarded directly or indirectly like more responsible positions, higher remunerations. It will help middle level managers to reduce wastage of anything since they can visualise the wastage in terms of money.

 Capability of justifying cost benefits of your actions is always a winning factor in industry, because running an industry is an economic activity. A person who can estimate cost of various activities involved in product making, becomes a decision maker. That means higher responsibility, higher position, higher remuneration.

 A series of related courses are conducted regularly for imparting in-depth knowledge of each step of product costing process . This free course will explain the importance of knowing this subject in more depth.

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Course tags

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Industry domains :

All Domains

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Engineering Disciplines :

Mechanical

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