- AURA454516A - Determine retail rates for work
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
AURA454516A Mapping and Delivery Guide
Determine retail rates for work
Version 1.0
Issue Date: April 2024
| Qualification | - |
Unit of Competency | AURA454516A - Determine retail rates for work |
|---|---|---|---|
| Description | This unit of competency covers the competence to calculate fixed and variable costs to determine retail rates for jobs performed. It also involves calculating the effects of discount on overall profitability. | ||
| Employability Skills | This unit contains employability skills. | ||
| Learning Outcomes and Application | This unit is applicable to the administration and repair sectors of the automotive industry. It includes:work undertaken in-housework involving subcontractingcosting of purchased parts for sale.Work is carried out in accordance with award provisions | ||
| Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. |
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| Prerequisites/co-requisites | |||
| Competency Field | |||
| Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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| Elements of Competency | Performance Criteria | |||||||
| Element: Determine fixed costs |
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| Element: Determine labour rate |
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| Element: Determine variable cost |
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| Element: Determine retail price of goods for resale |
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Evidence Required
List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. | |
Overview of assessment | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Calculate cost for a range of retail service and repair jobs, including fixed, variable and component pricing. Determine effect of price changes on overall business profitability. Gathering cost estimates from external service providers and documenting quotations. |
Context of and specific resources for assessment | Accounts payable and cash disbursement records, payroll records, equipment cost and asset register, pricing impact charts, stock turnover records, calculator or computer. |
Method of assessment | Practical assessments: determine hourly charge-out rate for classes of labour using proportion of fixed, variable and labour cost determine on-cost for parts and components determine effect of change in price on business profitability. |
Guidance information for assessment | |
Submission Requirements
List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here
Assessment task 1: [title] Due date:
(add new lines for each of the assessment tasks)
Assessment Tasks
Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.
Required skills |
collect, organise and understand information related to determining retail rates communicate ideas and information to establish appropriate retail rates for work plan and organise activities to comply with requirements for determining business retail rates work with others and in a team to allocate charges use mathematical ideas and techniques to support the business operation solve problems to establish business use workplace technology to optimise performance |
Required knowledge |
basic mathematical concepts, addition, subtraction, percentages and fractions |
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. | |
Calculations | Calculation will include: overheads may be calculated for a specific job or be a constant component based on historical records and projections overheads will include accommodation costs, utilities, depreciation, insurance, licence and other business charges labour costs will include on-costs, such as leave provision, superannuation, training and workers' compensation chargeable hours/productive hours based on total hours worked less acknowledged non-chargeable hours |
Work requirements | Work requirements may include: written and verbal communication sourcing and costing parts and consumables estimating costs documentation specific requirements |
External service providers | External service providers may be: other departments specialist businesses |
Resources | Resources may include: enterprise stationery, telephone and appropriate forms/business documents repair order and job cards component price lists accounting records purchasing records computer, calculator and software standard repair times |
Information/ documents | Sources of information/documents may include: manufacturer/component supplier specifications enterprise operating procedures customer requirements state/territory/industry OHS legislation industry/workplace codes of practice |
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.
Observation Checklist
| Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice | Yes | No | Comments/feedback |
|---|---|---|---|
| Identify components of fixed costs | |||
| Use historical records and business knowledge to estimate fixed costs for next period | |||
| Calculate administrative and business operation overhead costs | |||
| Allocate proportion of fixed cost to be included in labour rate | |||
| Identify cost components of labour rate | |||
| Using historical records identify average chargeable hours of each category of staff | |||
| Calculate subcontractor cost component of jobs | |||
| Calculate applicable hourly retail rate for labour, including provision for fixed costs | |||
| Identify components of variable cost for job | |||
| Estimate and record materials required for the job | |||
| Use accounting records and details of job undertaken to calculate variable cost | |||
| Research local market price for items | |||
| Estimate turnover volume of items | |||
| Calculate margins and mark-ups for each category of goods | |||
| Calculate effect of various discounts, loss leaders and specials on items based on retail price, volume and overall business flow-on | |||
| Calculate effect of high pricing strategy on some items | |||
| Monitor effects of price changes on business levels and profitability |
Forms
Assessment Cover Sheet
AURA454516A - Determine retail rates for work
Assessment task 1: [title]
Student name:
Student ID:
I declare that the assessment tasks submitted for this unit are my own work.
Student signature:
Result: Competent Not yet competent
Feedback to student
Assessor name:
Signature:
Date:
Assessment Record Sheet
AURA454516A - Determine retail rates for work
Student name:
Student ID:
Assessment task 1: [title] Result: Competent Not yet competent
(add lines for each task)
Feedback to student:
Overall assessment result: Competent Not yet competent
Assessor name:
Signature:
Date:
Student signature:
Date: