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Unit of competency details

MSTFD4004 - Calculate cost estimates for fashion products (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to LMTFD4004B - Calculate cost estimates for fashion productsSupersedes and is equivalent to LMTFD4004B Calculate cost estimates for fashion products 03/Jul/2016
Is superseded by and equivalent to MSTFD4023 - Calculate cost estimates for TCF productsSupersedes and is equivalent to MSTFD4004 Calculate cost estimates for fashion products 24/Jul/2019

Releases:
ReleaseRelease date
1 1 (this release) 04/Jul/2016

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  17/Nov/2016 
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Unit of competency

Modification History

Release 1. Supersedes and is equivalent to LMTFD4004B Calculate cost estimates for fashion products

Application

This unit of competency covers the skills and knowledge required to calculate cost estimates for fashion products.

The unit of competency applies to cost estimating for products developed for the fashion industry, including sample production.

Work may be conducted in small to large scale enterprises and may involve individual and team activities.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Pre-requisite Unit

Nil

Competency Field

Fashion design and technology

Unit Sector

Not applicable

Elements and Performance Criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Determine job requirements 

1.1

Follow standard operating procedures (SOPs)

1.2

Comply with work health and safety (WHS) requirements at all times

1.3

Use appropriate personal protective equipment (PPE) in accordance with SOPs

1.4

Determine job requirements from specifications, job sheets or work instructions

2

Prepare to calculate cost estimates 

2.1

Identify factors and market forces to consider when costing fashion products

2.2

Identify hidden costs in sample production

2.3

Identify and compare different methods of utilising labour in the fashion industry

2.4

Identify differences in costs for sample and bulk production garments

3

Calculate costs involved in producing fashion products 

3.1

Compare fabric and trim of similar garments from different price points within fashion industry and identify any production differences

3.2

Estimate costs of selected fabric and trims for sample garments and bulk production

3.3

Consider quality standards and desired garment finish to determine labour source

3.4

Calculate labour costs to produce sample garment and for bulk production

3.5

Review and adjust chosen fabric, trims and labour, if necessary, and calculate revised costs

4

Develop costing sheets to industry standards 

4.1

Identify components of costing sheets to meet fashion industry standards

4.2

Complete a costing sheet for a sample garment

4.3

Develop a quotation for bulk production

Foundation Skills

This section describes those required skills (language, literacy and numeracy) that are essential to performance.

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Range of Conditions

This field allows for different work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included.

Workplace procedures include one or more of the following: 
  • requirements prescribed by legislation, awards, agreements and conditions of employment
  • SOPs
  • work instructions
  • oral, written and visual communication
  • quality practices, including responsibility for maintenance of own work quality and contribution to quality improvement of team or section output
  • housekeeping
  • tasks related to environmental protection, waste disposal, pollution control and recycling
  • WHS practices

Australian Standards include: 
  • the relevant industry or Australian Standards that are current at the time this unit is being undertaken

Factors to consider when costing include one or more of the following: 
  • variable costs (e.g. fabric and labour)
  • fixed costs (e.g. overheads)
  • single or small runs
  • bulk production
  • profit margin

Costs include the following: 
  • fabrics
  • trims and accessories
  • materials
  • time
  • labour
  • overheads

Different methods of utilising labour include one or more of the following: 
  • cut, make and trim (CMT)
  • subcontractors
  • offshore production

Unit Mapping Information

Release 1. Supersedes and is equivalent to LMTFD4004B Calculate cost estimates for fashion products

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=a203ec5c-de7d-406b-b3e1-8f1a9b76e92e

 

Assessment requirements

Modification History

Release 1. Supersedes and is equivalent to LMTFD4004B Calculate cost estimates for fashion products

Performance Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria, and include:

  • reading and following work instructions, standard operating procedures (SOPs) and safe work practices
  • applying relevant standards
  • estimating costs of selected fabric and trims for sample garments and bulk production
  • calculating labour costs to produce sample garment and for bulk production
  • completing a costing sheet with relevant details, including costings of all relevant components, for a sample garment to industry standard
  • developing a quotation for a fashion product with details of all relevant costings of all relevant components for bulk production.

Knowledge Evidence

Evidence must be provided that demonstrates knowledge of:

  • work instructions, SOPs and safe work practices
  • relevant Australian Standards
  • industry standards for costing specifications
  • factors and market forces to consider when costing fashion products:
  • market demand for fashion labels
  • known versus unknown designer
  • trends
  • price range
  • hidden costs:
  • sample garments not being included in costing of bulk garments
  • wastage of fabric and materials
  • transport and delivery
  • time delay in client response or payment
  • range of typical garment fabrics, including weight and other characteristics
  • different methods of utilising labour in the fashion industry
  • designers
  • machinists
  • sample machinists
  • cutters
  • marker makers
  • patternmakers
  • quality controllers
  • pressers
  • packaging
  • marketing and sales
  • transportation
  • components of a costing sheet, including:
  • date
  • style/design number
  • size
  • fabrics/linings
  • trims
  • extras (e.g. pleating and embroidery)
  • labour/cut make and trim (CMT)
  • freight/shipping
  • packaging
  • overheads
  • labels
  • fabric swatch
  • flat trade sketch.

Assessment Conditions

  • Assessors must:
  • satisfy the assessor competency requirements that are in place at the time of the assessment, as set by the VET regulator
  • have vocational competency in costing fashion products, at least to the level being assessed, with relevant industry knowledge and experience.
  • Assessment should occur in operational workplace situations. Where this is not possible, or where personal safety or environmental damage are limiting factors, assessment must occur in a sufficiently rigorous simulated environment reflecting realistic operational workplace conditions. This must cover all aspects of workplace performance, including environment, task skills, task management skills, contingency management skills and job role environment skills.
  • Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.
  • Conditions for assessment must include access to all tools, equipment, materials and documentation required, including relevant workplace procedures, product and manufacturing specifications associated with this unit.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=a203ec5c-de7d-406b-b3e1-8f1a9b76e92e

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