Labour Costs
From the table created above, we can see that our labour costs are a relatively large area of our overall spending. This is due to the number of hours spent in the lab. From this, we can see that the total labour cost is calculated to be £12,000.00.
Staff/Technician Costs
This table shows all the costs we incurred from the help we received from the technicians, Dr Chris Jobling, Dr Timothy Davies and Mr David Moody, whose help and lectures were essential to the success of the experiment. The rate of time is an approximation that we have determined and the hourly rate of wages required is an estimate, so we cannot accurately measure wages. This gives a total of £12,700.00 for the total cost of staff and technicians.
Final costing
Using the table created earlier, the overall cost of the entire project was determined and placed into the final table. It is worth noting that this is a rough approximation of all our costs. From here, we calculate the total cost of billable time to develop the micro mouse and website to be £24,700.00. These costs may not be 100% accurate as some factors may not have been taken into account, such as the cost of lab space and equipment, all the costs incurred in travelling to Gregynog Hall, and so on. In fact, it costs much more than shown here.
No responses yet