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2 cards from this section. Quick, good the night before a test.
What is the difference between operating costs and ownership costs?
Think about which costs remain constant regardless of usage.
Name one component of operating costs.
Consider what expenses are directly related to equipment application.
What type of costs occur only when equipment is in use?
Remember the costs tied to usage.
True or False: Ownership costs increase with the usage of equipment.
Think about the nature of ownership versus operational scenarios.
Calculate the estimated total operating cost for an excavator working 2000 hours per year if it uses 5 liters of fuel per hour costing $1 per liter, has a maintenance cost of $5000, and labor costs of $20000.
Break down costs and sum them up accordingly.
Given that a piece of equipment has a useful life of 10 years and an initial cost of $100,000, estimate the yearly depreciation and consider its effect on the total ownership cost.
Consider how depreciation impacts the overall financial picture.
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