Friday, 3rd Mar: Costing (for manufacturers) Activity Conducted by Ms. Kanza Sohail
Ms. Kanza Sohail revised all the previously learned costing-related concepts for the participants and then started an activity for them that involved calculating the cost for the goods that they manufacture. The participants were asked to start a business with a given amount. They were supposed to rent a shop, buy raw material, take on labor and calculate the cost of the products.
They were given a box, that was supposed to be a model shop for the participants where they would conduct their business transactions and display manufactured goods. They then purchased scissors and paper for a certain price and included that in their total cost calculation. The participants learned important points related to costing for the manufacturing businesses. They estimated labor costs on an hourly basis for the different types of paper goods that they manufactured because they required different level of efforts.