Describe the Approach Employed by Small Shops to Estimate the Costs

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The Answer is The approach to estimating costs used by smaller shops is to get a price for the materials and then estimate the production time. Process and filler metal costs are considered, but little thought is given to the hidden costs of equipment depreciation, joint efficiency, power, and so on. With the majority of the welding jobs in these shops taking from a few hours to a few days and with costs ranging from a few hundred dollars to a few thousand dollars, extensive cost analysis cannot be justified. Extensive estimating may take more time than the job itself. To remain profitable and competitive, some cost estimation is required, however.

Describe the Approach Employed by Small Shops to Estimate the Costs

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