Practice Information Sources For Operating Costs (5.1) - Construction Methods and Equipment Management

Practice: Information Sources for Operating Costs

Lesson 5.1Construction Methods and Equipment Management

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9 questions

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6 sample questions

Question 1.
List the three main components of operating costs.
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Think about what costs incur when equipment is actively used.
Question 2.
What method is commonly used for estimating equipment costs?
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Remember, there are two methods discussed.
3Question 3.
What do operating costs primarily depend on?
- a) Equipment age
- b) Job operating conditions
- c) Initial purchase cost
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Think about what changes when you use the equipment in different environments.
4Question 4.
True or False: Major repairs are categorized under operating costs.
- True
- False
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Consider which costs arise irrespective of how often the equipment is used.
Question 5.
Calculate the estimated operating cost for a piece of equipment that operates for 1500 hours annually, with a fuel cost of $2.50 per gallon and an average consumption of 5 gallons per hour.
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Multiply the operating hours by the cost per unit consumption and the price of fuel.
Question 6.
Discuss why a manufacturer’s handbook is crucial for estimating repair costs and provide one specific example of how it informs the estimation process.
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Consider citing specific data usage from the handbook related to typical operational hours.

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