Unit of competency Outline

Date retreived
23/07/2026 4:46 AM AWST

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Prepare production costing estimates

Prepare production costing estimates

Unit of competency
National Code
ICPSU553C
State Code
D3285
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
05/07/2010
View on TGA
State Implementation and Classification
Approved Date
11/09/2014
Field of Education
080301 - Business Management
Original Release Date
11/09/2014
Nominal Hours
50
Description
This unit describes the performance outcomes, skills and knowledge required to cost and estimate production processes.
Notes
Elements and Performance Criteria
1. Identify costing estimate requirements
  • 1.1. Labour hours, times and other statistics required are identified and applied in calculations
  • 1.2. Available machine hours are identified and applied in calculations
  • 1.3. Economic batch sizes are identified
  • 1.4. Material requirements are identified and applied in calculations
2. Prepare costing estimates
  • 2.1. Costing estimates are calculated using material, labour and machine costs
  • 2.2. Cost estimate details are calculated
3. Compare estimates with actual costs
  • 3.1. Actual costs are compared with estimates
  • 3.2. Costing basis is adjusted as appropriate
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Type of costing may include:
this unit applies to managers/supervisors responsible for quality in an enterprise or large production section.
Enterprise procedures may include:
established organisational practices and procedures, and incorporate the organisation's known resources and work load as well as identified capacities.
Scope of costing may include:
estimates are based on familiar processes using available standard cost item statistics.
Data sources may include:
manual records or computerised production monitoring systems.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
accurately estimating and costing production
for valid and reliable assessment of this unit, evidence should be gathered over a period of time through a range of methods for assessment to indicate consistent performance
evidence for assessment may be gathered from assessment of the unit of competency alone or through an integrated assessment activity.

Context of and specific resources for assessment
Assessment must ensure:
assessment may take place on the job, off the job or a combination of these. Off the job assessment must be undertaken in a closely simulated workplace environment.

Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate.

Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended.
Replaces
State Code National Code Title Type
D0535 ICPSU553B Prepare production costing estimates Unit of competency
Replaced By
State Code National Code Title Type
AUO97 ICPSUP553 Prepare production costing estimates Unit of competency