COST MANAGEMENT MODELING OF INVESTMENT CASTING PROCESS

Abstract

The project focuses on the In-process Cost Management and modeling of Investment Casting Process, using the work-study and time measurement techniques for Small and medium business companies Since Investment Casting is a lengthy and labor intensive process so cost involved must be calculated and controlled precisely to make the production process profitable. Efficient usage of resources and in time project completion is the major objectives to be achieved which is analyzed in the project. The project describes various costing techniques and their application feasibility with respect to the Investment Casting. The research enabled companies to establish systematic costing procedure for “Investment Casting” thus quoting realistic costs against orders with reasonable profit margins.

The Process Costing technique is applied on the IC and the overheads are further allocated to activities though “Activity Based Costing”. Finally some new and innovative technologies emerged in the field of “Investment Casting” are proposed and discussed