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Evidence Guide: MSFFDM4007 - Identify and calculate production costs

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

MSFFDM4007 - Identify and calculate production costs

What evidence can you provide to prove your understanding of each of the following citeria?

Document costing

  1. Document details of costs in accordance with workplace procedures and formats
  2. Check and verify costing details in accordance with workplace procedures
  3. File and store costing information for future reference in accordance with workplace procedures
  4. Respond appropriately and in accordance with workplace procedures to changes in scope and other requirements
Document details of costs in accordance with workplace procedures and formats

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check and verify costing details in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

File and store costing information for future reference in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Respond appropriately and in accordance with workplace procedures to changes in scope and other requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Gather and analyse information

  1. Identify and collect information required to calculate production costs
  2. Analyse information and extract relevant details
  3. Convert required information to an appropriate format or software and store ready for retrieval and application
Identify and collect information required to calculate production costs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse information and extract relevant details

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Convert required information to an appropriate format or software and store ready for retrieval and application

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estimate production costs

  1. Estimate and accurately record types and quantities of materials required for production based on specifications
  2. Estimate time requirements for production activities and other lead times based on specifications
  3. Estimate and record labour requirements for direct production and handling operations based on specifications
  4. Estimate and record costs associated with wastage (labour, materials, consumables) based on specifications and previous project outcomes
Estimate and accurately record types and quantities of materials required for production based on specifications

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estimate time requirements for production activities and other lead times based on specifications

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estimate and record labour requirements for direct production and handling operations based on specifications

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estimate and record costs associated with wastage (labour, materials, consumables) based on specifications and previous project outcomes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine production costs

  1. Calculate and document total production costs using required software in accordance with workplace procedures
  2. Determine and document allowance for overheads and mark-up percentages in accordance with workplace procedures
  3. Determine costs associated with transportation and packaging of product
  4. Calculate and communicate final cost to customer through liaison with marketing/sales personnel and other personnel involved in financial decision-making
  5. Document details of costs in accordance with workplace procedures and formats
  6. Check and verify costing details in accordance with workplace procedures
  7. File and store costing information for future reference in accordance with workplace procedures
  8. Respond appropriately and in accordance with workplace procedures to changes in scope and other requirements
Calculate and document total production costs using required software in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine and document allowance for overheads and mark-up percentages in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine costs associated with transportation and packaging of product

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate and communicate final cost to customer through liaison with marketing/sales personnel and other personnel involved in financial decision-making

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document details of costs in accordance with workplace procedures and formats

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check and verify costing details in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

File and store costing information for future reference in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Respond appropriately and in accordance with workplace procedures to changes in scope and other requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge