Cost Assessment Techniques

Paper Code: 
JWT 403
Credits: 
8
Contact Hours: 
120.00
Max. Marks: 
100.00
Objective: 

Objectives:

  1. To understand costing process of  jewellery design
  2.  To impart in-depth knowledge of manual & computerized cost estimation of  jewellery

 

40.00
Unit I: 
Costing and Pricing Strategies, Objectives & Pricing formula
  1.          
  • Costing  of a  Jewellery Piece
  •  Wastage
  •  Labour Cost 
  • Determination of Profit
  • Selling Prices
  • Jewellery Purchasing
  • Cost of inputs

 

40.00
Unit II: 
Cost-Based Designing
  1.  
    • Designing a Pendant and earring Set for a Particular Cost-Price
    • Designing a Ring for a Particular Cost-Price
    • Designing a Earring  for a Particular Cost-Price

 

40.00
Unit III: 
Costing in MS Excel
  • MS Excel

Introduction, spreadsheet, workbooks, saving a file, opening an existing worksheet, Rows and columns, cell entries (numbers, labels, formulas),

  • Various tools & Functions           :                                                          

Filling series, Functions and its parts, Some useful Functions in excel (SUM, AVERAGE, COUNT, MAX, MIN, IF) .Data sort, Renaming  sheet, Printing worksheet.

  •  Costing :

Insert Picture, Rate of Metal & Gem stones, Labour, Wastage,  Determination of Profit and selling price.

 

References: 
  1. The Crafter's Guide to Pricing Your Work - by Dan Ramsey
  2. Gold & Platinum Jewelry Buying Guide by Renee Newman
Academic Year: 
2016-2017
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