The cost elements of a product are those related to
materials, labor, and overhead. Only welding materials
such as filler metals, gases, and fluxes are considered in
the chapter, and only the labor directly involved in
welding is specifically addressed. Thus, information
related to base metal costs as well as layout, forming,
fitting, and other metalworking is not included.Overhead costs are not addressed in detail in this chapter
because the amount of overhead varies from industry to
industry, and the method of distributing overhead costs
also varies.