Unit of competency Outline

Date retreived
23/07/2026 1:02 AM AWST

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Identify and calculate production costs

Identify and calculate production costs

Unit of competency
National Code
MSFFDM4007
State Code
ODZ80
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
03/06/2022
View on TGA
State Implementation and Classification
Approved Date
15/11/2022
Field of Education
040307 - Building Construction Economics
Original Release Date
15/11/2022
Nominal Hours
35
Description
This unit describes the skills and knowledge required to gather and analyse information needed for the costing process and then estimate, calculate and document production costs in a commercial production environment.This unit applies to individuals working in a role requiring estimation of end-to-end production costs, either alone or as part of an internal or external team.No licensing or certification requirements exist at the time of publication. Relevant legislation, industry standards and codes of practice within Australia must be applied.
Notes
Elements and Performance Criteria
1. Gather and analyse information
  • 1.1 Identify and collect information required to calculate production costs
  • 1.2 Analyse information and extract relevant details
  • 1.3 Convert required information to an appropriate format or software and store ready for retrieval and application
2. Estimate production costs
  • 2.1 Estimate and accurately record types and quantities of materials required for production based on specifications
  • 2.2 Estimate time requirements for production activities and other lead times based on specifications
  • 2.3 Estimate and record labour requirements for direct production and handling operations based on specifications
  • 2.4 Estimate and record costs associated with wastage (labour, materials, consumables) based on specifications and previous project outcomes
3. Determine production costs
  • 3.1 Calculate and document total production costs using required software in accordance with workplace procedures
  • 3.2 Determine and document allowance for overheads and mark-up percentages in accordance with workplace procedures
  • 3.3 Determine costs associated with transportation and packaging of product
  • 3.4 Calculate and communicate final cost to customer through liaison with marketing/sales personnel and other personnel involved in financial decision-making
4. Document costing
  • 4.1 Document details of costs in accordance with workplace procedures and formats
  • 4.2 Check and verify costing details in accordance with workplace procedures
  • 4.3 File and store costing information for future reference in accordance with workplace procedures
  • 4.4 Respond appropriately and in accordance with workplace procedures to changes in scope and other requirements
No information
No information
Replaces
State Code National Code Title Type
WI459 MSFFT4010 Identify and calculate production costs Unit of competency