Cost Assessment Techniques

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

Learning outcomes (COs):

Course

Learning outcomes

(at course level)

Learning and teaching strategies

Assessment

Strategies

COURSE CODE

COURSE TITLE

JWT 203

 

 

Cost Assessment Techniques

 

The students will –

 

CO40: Calculate the average cost of jewellery Product.

CO41:  Design jewellery product keeping cost in mind.

CO42:  Pricing Jewellery Product.

CO43:  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: 
  • Quick Design (2012)
  • Anna M. (2013). Jewelry Appraising by Gem Stone Press; 3rd edition
  • Miller, A. M. (2012) Gems and Jewellery Appraising by Springer

 

References: 
  • Cihonski, J. L. (2009). NOBLE METALS. Encyclopedia of Physical Science & Technology, 9, 9, 15.
  • Hoke, C. M. (2010). 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 . CRC press.
  • Chaffers, W. (2012). Hall marks on gold and silver plate. BoD–Books on Demand.

E-RESOURCES:

JOURNALS:

  • Journal of Gem & Jewellery Industry 
  • Art of Jewellery
  • Diamond World

 

Academic Year: 
2022-2023
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