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Scheduling
Costs

Budget:

Bill of materials and Costing

After finalized the detail design, we conduct a bill of materials and estimate the total budget so that we could plan the manufacturing process. Here shows the 2 quotation of the budget:

 

                                                                        First Quotation                         Second Quotation    

Electrical and Electronic components:        Quantity          Price                Quantity           Price

1. DC Motor                                                   1                     $700                  1                      $700

2. Transformer                                                 1                     $155                  1                      $155

3. Wire (length: 5 m)                                         1                     $35                    1                      $35

4. Switch                                                          7                     $40                    7                      $40

5. Bridge                                                          1                     $15                    1                      $15

6. Relay                                                            2                     $10                    2                      $10

7. Capacitor                                                      2                     $3                      2                      $3

8. Resistor                                                        1                     $2                      0                      $0

Total:                                                                                      $960                                          $958

 

Metallic and other raw material:                  Quantity         Price                 Quantity         Price

1. Bearing                                                         6                     $348                  6                      $348

2. Belt pulley                                                    4                     $77                    4                      $77

3. Bike brake                                                   1                     $30                    1                      $30

4. Gear box                                                      1                     $450                  0                      $0

5. Belt                                                              2                     $33                    2                      $33

6. Screw                                                          92                   $40                    0                      $0   

7. Mild steel tube                                              1                     $65                    1                      $65

8. Mild steel rod                                               3                     $36                    3                      $12

9. Mild steel disc                                              1                     $65                    1                      $65 

10. Mild steel sheet                                           1                     $150                  1                      $150

10. Aluminum rod                                             2                     $310                  0                      $0

Total:                                                                                      $1604                                        $780

 

 

Overall Budget:                                                                   $2564                                        $1738

 

         In the first quotation the total budget is over two thousand dollars, which is over the expected budget mentioned in product specification. In order to maintain a good costing, a second quotation was taken so that we could reduce the items to be brought. We investigated that would only affect the manufacturing process and the time consuming but not the structure of the design. As a result we have got the budget of the second quotation being about $1740.