May 18, 20212 min readValue engineering- procedure,advantages and applicationsValue engineering is the applications of exactly the same set of technique to a new product at the design stage, project concept or prelimin
May 3, 20211 min readUniform gradient series annual equivalentThe main objective of this investment is to find the annual equivalent amount of a series with an amount A1 at the end of the first year and
May 3, 20211 min readBreak-even analysis or cost value profit analysisThe main objective is to find the cut-off production volume from where a firm will make profit. The total sales revenue of the firm is
May 2, 20212 min readElements of costVariable cost :- Varies with the volume of production. Overhead cost :- It is fixed, irrespective of the production volume. Direct mat
May 2, 20212 min readLaw of demand and supplyIt states that the demand and supply of a product are sensitive with respect to the price. When the product price decreases, the demand of p
