An introduction to the time value of money and how it relates to capital investments, equipment replacement, production cost, and various engineering technology alternatives. Not open to students who have had IET 25000.
IT 450 (Production Cost Analysis)
An introduction to financial statements and to the study of the costs of production in terms of break-even and least-cost alternatives, including present and future costs when related to the time value of money, budgeting, labor and overhead, production, cost control, and the role of the supervisor and the engineering technologist to cost control. Computer applications for determining rate of return for complex problems are introduced.