Cost Assessment Techniques

Paper Code: 
JWT 203
Credits: 
8
Contact Hours: 
120.00
Max. Marks: 
100.00
Objective: 

 

This course will enable the students to –

  1. Understand costing process of jewellery design.
  2. Impart in-depth knowledge of manual & computerized cost estimation of jewellery.

Learning outcomes (COs):

Course

Learning outcomes

(at course level)

Learning and teaching strategies

Assessment

Strategies

Paper Code

Paper Title

JWT 203

 

 

Cost Assessment Techniques

 

The students will be able to –

 

CO30: Calculate the average cost of jewellery Product.

CO31:  Design jewellery product keeping cost in mind.

CO32:  Pricing Jewellery Product.

CO33:  Determine markup price for single and wholesale order jewellery.

 

Approach in teaching:

Interactive Practical Sessions ,  problem solving exercises, Demonstrations ,Giving tasks, Field practical , Workshop ,  Laboratory industry visits,  Group and Team work

Learning activities for the students: Self-learning assignments, design development

Class test, Semester end examinations, Assignments, Presentation, Individual and group projects

 

40.00
Unit I: 
Costing and Pricing Strategies, Objectives & Pricing formula :
  • 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
    • Designing a necklace  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.

 

 

Essential Readings: 

BOOKS RECOMMENDED:

 

  • Cihonski, J. L. (1987). NOBLE METALS. Encyclopedia of Physical Science & Technology, 9, 9, 15.
  • Hoke, C. M. (1940). Refining precious metal wastes: gold-silver-platinum metals: a handbook for the jeweler, dentist and small refiner. Metallurgical Pub. Co..
  • Smith, H. (2010). Jewellery.: Nabu Press.
  • Carmichael, R. S. (2017). Practical Handbook of Physical Properties of Rocks and Minerals (1988). CRC press.
  • Chaffers, W. (2012). Hall marks on gold and silver plate. BoD–Books on Demand.

 

 

References: 

 

 

Academic Year: 
2020-2021
  • Printer-friendly version
  • PDF version