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Hi I'm Professor Jean Gipe Director of Apparel Research Center here at Cal Poly University of
Pomona. And sitted beside me is Bob Louder of Charles Gilbert Associates out of the Atlanta
area. And Bob is our instructor for class on product costing. Bob has taught that class
for as many times before and he has put together a lot of information for you that help businesses
who deal with a variety of some products and small quantities to medium to large size quantities
in their own factories and contractor's factories and about every scenario that we could possibly
think of we've included in the class. And Bob has included worksheets and exercises to help
you get better at costing and to actually submit his homework assignments for him to
review and help you see how you are doing in with your actual costing. Bob you've worked
in plants full time and work in plants as an consultant and you have lots of different
types of companies with all kinds of products ask you for help in this area. Would you comment
on the common problems that you see people are having with costing and also some of the
not so common problems. Well obviously we see a lot of different things. We see a lot
of different levels. Typically people are calling us for things about costing that they
don't understand. It could be process. It could be a new products to them that they
don't have any history or expertise in making that product. So they come to us and ask for
help. We find that no matter why they come to us that there are somethings that are common
in problems in costing no the least which is averaging. Trying to average things that
they don't necessarily understand or directly related to a specific a product and have no
relation to the product at all. We uncover things like that form. We hope that this workshop
gives everyone who takes the time and effort to go through it. We would offer you ways
to eliminate that particular problem. Maybe give you some insight into what it really
takes to do a very detailed job of product costing as well as budgeting. Instead of doing
allow you some degree if you will a variation that might be acceptable in your own company
to product costing that let's get as detailed that you need to be. Also let's you assess
where you are as far as product costing goes. I think product costing can kind of equivocate
to a jig saw puzzle. And that you have all the pieces that your trying to account for
and you want to make sure that you haven't missed any of them because every piece falls
in it's place and contributes to the total picture. And yet sometimes people don't really
remember. Or they don't understand how to put each of the pieces in the proper place.
They'll lumps certain kinds of cost together and think "That my over head". Or they'll
take certain kinds of other cost and say "Oh yeah those are my right material cost" and
the class I know you made an extreme effort to try and point out how do you indentify
each of the cost and where is the appropirate place to put them. Because it does make a
difference in the end especially in the relation to the averages and how the averages can be
very misleading. If you are interesting in signing up for the class the information is
on the ATRC website. And if you haven't additional questions about the class on where you sign
up, you can always phone or email and we are happy to answer those for you. So we look
forward to joining our product costing class. We put absolutely everything in their that
we can possibly think of to include. So it should be a great help to any company of any size.