How To Cost Your Product

Programme Aim

This Course will provide participants with the skills and knowledge to understand how to calculate product or service cost. Become aware of cost management in your own business.

Programme Content

• At the end of this course the participants will be fully able to:
• Calculate product or service cost 
• Establish costing procedures 
• Explain the nature and behavior of different costs 
• Assess their current costing procedures and prepare to make amendments where
          appropriate 
• Calculate breakeven in sales (€) 
• Cost management 
• Different types of costs, (direct, indirect, fixed, variable) 
• Calculation of annual overheads 
• Estimating breakeven & assessing viability 
• Cutting costs and dealing with your accountant 
• Apportioning overheads to individual jobs/products
• Calculating product/service cost
• Time management and costs 
• Costing techniques – batch, process, contract, job, service
• Cost plus pricing - calculating the job/product price 
• Mark – up versus Margin 
• Calculating breakeven in sales (€) 
• Pricing policy introduction 
• Action plan/checklist 

Pre Course Work

If possible, Trainees are asked to research some of their business costs before attending the training, e.g. ESB, telephone and other bills Trainees will be requested to complete a pre-course questionnaire

Participant Preparation

Participants are asked to bring their own calculators. However, if they forget them we will provide calculators for the day.