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This can help ensure accuracy but can get tedious. You should also mark each symbol with a colored pen or pencil to signify that it has been counted and to avoid counting it again. As you complete the count for each component on each page, enter the quantities on a working scope sheet. After you have worked your way through every page of the blueprint, add the totals for each different component.

You will also need to measure the circuits shown in the drawings. First, check the scale used for each page that you measure. It is also worth noting that if you are not working from original blueprints, they might have been copied at a reduced size. There are a number of tools you can utilize to take measurements from drawings. These include an architectural ruler, scaled measuring tapes, and mechanical and electronic measuring wheels. Rules and measuring tapes are fine for quick measurements in small dimensions, but a measuring wheel is both convenient and accurate.

You can now measure the branch circuit for each component in the drawing — remember to allow for and add in the drops at each switch. Some electronic scale wheel devices allow you to press a key to add a set distance for drops. This is fine if all the drops are standardized, but you will have to reset the constant each time if they are of different sizes. There may be different circuits two-, three- or four-wire marked on the same drawing. Trace each one with a colored pen or pencil once you have finished measuring, using the same color for the same type of circuit.

You can now use your counts and measurements to produce a takeoff figure.

Non-tariff measures

Using trade market values generally building in a small buffer for price fluctuations , you can provide a relatively accurate estimate of the cost of the materials involved. With the right time and motion data required, you can also gauge the scale of the job to project approximate labor and other associated costs. These tips for understanding how to master the MTO should help you get your project off the ground. An effective estimate is vital when working on a construction project, so follow these guidelines for the most cost-effective solution when approaching your new development.

Construction asset management is crucial for every construction firm. But keeping track of tools and equipm Mixed reality in construction is here and the Microsoft HoloLens Trimble hard hat solution has dissolved th March 11, Before an estimator can bid for or start a project, they need to know the types and quantities of different materials they will need to complete it.

This ensures a proper estimation of the costs and requirements for the materials and will also give an indication of the labor costs involved in the installment or construction of said materials. What to count Essentially, the takeoff should quantify all the materials needed to complete the building, structure or project. Count The estimator will need to count the numbers required for specific individual items. Length Some items, such as cables and pipes, are measured primarily by length.

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One of the core aspects of U. The consistency principle requires a company to adopt an accounting method and follow it consistently from one accounting period to another.

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For example, businesses that adopt the average cost method need to continue to use this method for future accounting periods. This principle is in place for the ease of financial statement users so that figures on the financials can be compared year over year. A company that changes its inventory costing method must highlight the change in its footnotes to the financial statements. Tools for Fundamental Analysis.

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What prices will permits trade at?

Your Money. Personal Finance. Financial Advice. However, of equal importance is the portion cost factor.

Quite often the cost per portion of the main ingredient is used by itself to determine the selling price of a menu item. As discussed earlier in this book, in many cases, some of the components will be the same, so a basic plate cost can be used to add to the cost of the main protein to get a total cost for the dish. In dishes where the main ingredients are not sold as entities but as part of a prepared dish, the cost of all the items in the recipe must be determined to find an accurate portion cost price.

In this case, a recipe detail and cost sheet is used to determine the cost price of menu items. Refer back to the section on costing individual menu items for more information. Once the potential cost of a menu item is determined, the selling price of the item can also be calculated by using the food cost percentage. As you may recall, food cost percentage is determined by dividing the portion cost by the selling price:. The cost mark-up can also be determined by dividing the food cost percentage into 1.

The equation then becomes:. The cost mark-up can be used to determine a selling price when a portion cost is known by multiplying the cost mark-up and the portion cost:. This price might be adjusted because of competition selling the same item for a different price, price rounding policies of the restaurant or the whims of management. Prices on such menus tend to be rounded to the nearest number ending in 5 or 9.

No matter what the final menu price is, at least a base price has been established.

Introduction to Construction Estimating - American Society of Professional Estimators

In many cases, the food percentage is based on past experiences of the manager, or by a supposed awareness of industry averages. Unfortunately, none of these methods takes into account the unique situations affecting most restaurants. A more accurate way of computing a target food cost percentage is to estimate total sales, labour costs, and hoped-for profits.

These figures are used to determine allowed food costs. The total of projected food costs is divided by the projected sales to produce a food cost percentage. The food cost percentage can be turned into a mark-up margin by dividing the percentage into 1, as shown above.

AU Section 342

In this example, the menu prices would be determined by multiplying the portion costs of each item by the mark-up margin of 4. Adjustments would then be made to better fit the prices to local market conditions. If the application of the derived mark-up margin produces unreasonable prices, then one or more of the projected sales, labour costs, overhead, or profits are probably unreasonable. The advantage of using this system is that it points out but does not pinpoint such problem assumptions early in the process. In the middle section of the worksheet in Figure 21, a food cost percentage is determined by subtracting other known cost percentages i.

One divided by the food cost percentage determines the mark-up margin.

Approximate and Detailed

Food costs are then determined in the bottom half of the sheet and a menu price derived by multiplying the total cost by the mark-up margin. This builds some potential profit into the menu prices. If you were to price everything according to costs only, the restaurant would only ever be able to break even and never turn a profit. On the surface, it seems that the lower the food cost, the more room there is for profit. However, in terms of monetary profit, the issue is not that straightforward.

What has to be determined is how much money the menu item generates. This calculation involves finding the contribution margin of each item. Contribution margin is determined by subtracting the cost from the selling price. Consider the contribution margin of two menu items that have different food costs and food cost percentages shown in Figure In terms of percentage profit, the chicken is higher. However, in terms of money in the till, the steak creates more money that can be used to pay bills.

The key to a good menu is not necessarily to just keep food cost percentages low; it is to also to keep contribution margins high. A basic menu analysis determines how often each item on the menu is sold. This basic statistic can be used with cost percentages, menu prices, and sales values to make generalizations about the relative value of each menu item. Figure 23 shows a menu analysis worksheet for a lunch menu.

Most POS systems can generate this type of information at the end of a shift, day, week, or month. The statistics provided in a menu analysis have several uses. For example, the total sold statistics can be used to predict what future sales numbers will be. This information is valuable for ordering supplies and organizing the kitchen and kitchen staff to produce the predicted number of items.