The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!
From the Wiki University
What evidence can you provide to prove your understanding of each of the following citeria?
Determine fixed costs
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Fixed cost components are identified and classified into categories Completed |
Evidence:
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Past records and business requirements are used to estimate fixed costs for next period Completed |
Evidence:
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Fixed administrative and business operation overhead costs are calculated Completed |
Evidence:
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Proportion of fixed costs to be included in retail rates is determined Completed |
Evidence:
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Determine labour rate
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Cost components of labour are identified and classified into categories Completed |
Evidence:
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Average charge per hour for each identified category is calculated Completed |
Evidence:
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Cost component of subcontractors used on jobs is determined and included in calculations for relevant jobs Completed |
Evidence:
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Hourly labour rates are calculated according to workplace procedures Completed |
Evidence:
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Determine variable costs
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Variable costs are identified and calculated using data obtained from accounting records or supplier information Completed |
Evidence:
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Required materials are estimated and recorded Completed |
Evidence:
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Determine retail price of products and services
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Previous sales figures and trends in turnover volume are reviewed Completed |
Evidence:
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Competitors’ price for similar products or services is researched and reflected in final retail rate Completed |
Evidence:
|
Retail prices, margins and mark-ups for each product or service category are finalised according to workplace procedures Completed |
Evidence:
|
Determine fixed costs
|
|
Fixed cost components are identified and classified into categories Completed |
Evidence:
|
Past records and business requirements are used to estimate fixed costs for next period Completed |
Evidence:
|
Fixed administrative and business operation overhead costs are calculated Completed |
Evidence:
|
Proportion of fixed costs to be included in retail rates is determined Completed |
Evidence:
|
Determine labour rate
|
|
Cost components of labour are identified and classified into categories Completed |
Evidence:
|
Average charge per hour for each identified category is calculated Completed |
Evidence:
|
Cost component of subcontractors used on jobs is determined and included in calculations for relevant jobs Completed |
Evidence:
|
Hourly labour rates are calculated according to workplace procedures Completed |
Evidence:
|
Determine variable costs
|
|
Variable costs are identified and calculated using data obtained from accounting records or supplier information Completed |
Evidence:
|
Required materials are estimated and recorded Completed |
Evidence:
|
Determine retail price of products and services
|
|
Previous sales figures and trends in turnover volume are reviewed Completed |
Evidence:
|
Competitors’ price for similar products or services is researched and reflected in final retail rate Completed |
Evidence:
|
Retail prices, margins and mark-ups for each product or service category are finalised according to workplace procedures Completed |
Evidence:
|