Production costs

Wondering shapes necklace production

For Production Costs assignment on Parsons x TeenVogue. 

Prototype sample is made from bending and twisting wire. The pendent is made from clipper and ring.

Materials: Metal wire, silver ring, and black clipper.

The production cost for 1 necklace:

Wondering shapes necklace #1
Metal wire / 50cm	$0.50
Silver ring	$1.00
Black clipper	$0.50
0.30 hrs @ $9	$4.50
Total production cost	$6.50
20% profit	$1.30
Total cost plus profit	$7.80
Estimated retail price	$10.00

For wholesale cost:

-Buying materials in bulk to reduce costs.

Wondering shapes necklace #2
Metal wire / 50cm (wholesale 5m.)	$0.30
Silver ring (buy in bulk)	$0.70
Black clipper (buy in bulk)	$0.30
0.30 hrs @ $9	$4.50
Total production cost	$5.80
20% profit	$1.16
Total cost plus profit	$6.96
Estimated retail price	$10.00