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Questions and Answers
The total costs for hourly equipment operation include owning costs, operating costs, maintenance costs, and wages.
The total costs for hourly equipment operation include owning costs, operating costs, maintenance costs, and wages.
True (A)
Hourly equipment operation costs do not include wages.
Hourly equipment operation costs do not include wages.
False (B)
Owning costs are not a part of the total costs for hourly equipment operation.
Owning costs are not a part of the total costs for hourly equipment operation.
False (B)
The total costs for hourly equipment operation include maintenance costs.
The total costs for hourly equipment operation include maintenance costs.
Operating costs are not a part of the total costs for hourly equipment operation.
Operating costs are not a part of the total costs for hourly equipment operation.
Wages are included in the total costs for hourly equipment operation.
Wages are included in the total costs for hourly equipment operation.
Flashcards
Owning costs
Owning costs
Costs related to owning the equipment, such as purchase price depreciation and storage.
Operating costs
Operating costs
Costs incurred while the equipment is actively being used, like fuel and lubricants.
Maintenance costs
Maintenance costs
Costs associated with keeping the equipment in good working order, including repairs and servicing.
Wages
Wages
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Total hourly equipment costs
Total hourly equipment costs
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Study Notes
Equipment Operation Costs
- Total costs for hourly equipment operation encompass maintenance costs and wages.
- Owning costs are excluded from total costs for hourly equipment operation.
- Operating costs are not included in the total costs for hourly equipment operation.
- Wages are a significant component of the total costs associated with hourly equipment operation.
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