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Computer numerical controlled (CNC) machines are computer-driven tools that can machine a large variety of shapes, and whose use in the workflow depends on the part to be machined. [2] CNC machines are becoming the standard due to their speed, precision, flexibility, repeatability, and reduced downtime while changing jobs.
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." [2]
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost ...
The job had a total cost of $30,000. this amount is transferred out of Work in Process to Finished Goods or Cost of Goods Sold. #111 $3,000 DM, 30 DL hours. Therefore, $6,600 in new cost is added ($3,000 DM, $600 DL, $3,000 OH). The job has a new total cost of $16,600. This amount remains in Work in Process until completion.
Cost engineering: practice devoted to the management of project cost, involving such activities as cost- and control- estimating, which is cost control and cost forecasting, investment appraisal, and risk analysis. [12] Value engineering: a systematic method to improve the "value" of goods or products and services by using an examination of ...
Work in which the spindle's axial movement is normal to one plane, with an endmill as the cutter, lends itself to a vertical mill, where the operator can stand before the machine and have easy access to the cutting action by looking down upon it. Thus vertical mills are most favored for diesinking work (machining a mould into a block of metal). [6]
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