As long-spanning timber floor elements attempt to achieve a meaningful market share, proof of serviceability continues to be a demanding task as international consensus remains unsettled. Initiatives to improve vibration levels are achievable, but a lack of confidence in the market is resulting in increases in margins for both manufacturers and contractors. State-of-the-art concrete alternatives are offered at less than half the price, and even though timber floors offer reduced completion costs and low carbon emissions, the market is continuously reserved. Cost reductions for timber floor elements to competitive levels must be pursued throughout the product details and in the stages of manufacturing. As new wood products are introduced to the market, solution space is increased to levels that demand computerized optimization models, which require accurate expenditure predictions. To meet this challenge, a method called item-driven activity-based consumption (IDABC) has been developed and presented in this study. The method establishes an accurate relationship between product specifications and overall resource consumption linked to finished manufactured products. In addition to production time, method outcomes include cost distributions, including labor costs, and carbon emissions for both accrued materials and production-line activities. A novel approach to resource estimation linked to assembly friendliness is also presented. IDABC has been applied to a timber component and assembly line operated by a major manufacturer in Norway and demonstrates good agreement with empirical data.