. Bulletin of the Department of Agriculture. Agriculture; Agriculture. Washington, D. C. September 12, 1918 HIGHWAY COST KEEPING. By James J. Tobin and A. R. Losh, United States Engineer Economists Reviewed by Halbert P. Gillette, Consulting Cost Engineer. CONTENTS. Page. Part I. Cost keeping in general 1 The fundamentals of cost keeping 1 Cost elements 2 Fixed charges 9 Highway cost analysis 10 Units of measurement 11 Part II. Cost keeping for highway work 13 Essentials of a cost system 13 Classification of expenditures 13 Operation code 16 Method of obtaining class and operation number
. Bulletin of the Department of Agriculture. Agriculture; Agriculture. Washington, D. C. September 12, 1918 HIGHWAY COST KEEPING. By James J. Tobin and A. R. Losh, United States Engineer Economists Reviewed by Halbert P. Gillette, Consulting Cost Engineer. CONTENTS. Page. Part I. Cost keeping in general 1 The fundamentals of cost keeping 1 Cost elements 2 Fixed charges 9 Highway cost analysis 10 Units of measurement 11 Part II. Cost keeping for highway work 13 Essentials of a cost system 13 Classification of expenditures 13 Operation code 16 Method of obtaining class and operation number from code 17 Page. Part II. Cost keeping for highway work- Continued. Use of code in operations 18 Detail of cost accounts and necessary codes 19 Recording forms 23 Immediate use of cost data 30 Final disposition of cost data 30 Definitions of operation terms 29 Appendix 42 PART I. COST KEEPING IN GENERAL. THE FUNDAMENTALS OF COST KEEPING. Definition.—Cost keeping is a system for recording the cost of each unit of product or division of work in order to facilitate com- parison of such costs with cost of other similar units or divisions under like conditions. Cost keeping analyzes each unit of product or work to determine the reasonableness or unreasonableness of the cost, and also to secure an intelligent basis for predicting the cost of producing similar units in future. Lack of cost records.—The Office of Public Roads and Rural Engi- neering, in an extensive investigation of highway management, both by the State highway departments and by a large number of indi- vidual counties and townships, brought out, among other condi- tions, the very general absence of cost keeping. Few examples of practical and efficient cost keeping were found in operation, and 41601°—18—Bull. 660 1. Please note that these images are extracted from scanned page images that may have been digitally enhanced for readability - coloration and appearance of these illustrations may not perfectly res
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