Engineering Economics
The first cost to be incurred if the piece of equipment now in place had been bought for a second hand dealer or some other business is called ______.

Material cost
Fixed cost
In-place value
First cost

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Engineering Economics
A construction estimate is used

None of these
To produce a statement of the approximate cost
To judge tentatively or approximate value of the project
To decide an approximation of the value of the project and not the exact cost

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Engineering Economics
Using factor method, the depletion at any given year is equal to:

Initial cost of property times number of units sold during the year
Initial cost of property times number of unit sold during the year divided by the total units in property
Initial cost of property divided by the number of units sold during the year
Initial cost of property divided by the total units in property

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