← Lessons 14-Vehicle Costing
Quiz Question
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1. INTRODUCTION 2. TERMINOLOGY 3. VEHICLE STANDING COSTS 4. VEHICLE RUNNING COSTS 5. THE PROFIT REQUIREMENT 6. CALCULATING RATES 7. CONCLUSION 8. QUICK EXAM NUMBERS / FACTS – MEMORISE THESE 9. FINAL MEMORY CHECKLIST

7. CONCLUSION

  • Vehicle costing should enable the operator to calculate quotations from actual/current costs and include a realistic profit margin.
  • Market conditions may prevent an operator from always achieving the desired margin.
  • Accurate costing shows the financial consequence of accepting work at a lower margin.
  • Regular costing allows corrective action during the trading period rather than discovering losses after the financial year has ended.