Cost Assessment Techniques

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

Course Objectives:

This course will enable the students to –

  1. Understand costing process of jewellery design.
  2. Impart in-depth knowledge of manual & computerizedcost 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–

 

CO30: Determine 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:
  • Designing a Pendant and earring set for a Particular Cost-Price
  • Designing a Ring for a Particular Cost-Price
  • Designing an 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: 
  • 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.

 

Academic Year: 
2021-2022
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