Standard costing is an accounting technique that breaks overspending and underspending on materials, labor and overhead cost into their price and quantity components. For example, a manager may notice ...

Plastics processors are fortunate to have several options for managing and calculating costs. In part one of this series, we discussed the benefits of a production profit contribution model. This ...

Understanding the cost of your inventory isn’t just about keeping numbers straight; it’s about gaining insights that drive profitability, improve operational efficiency and enhance decision-making.

Knowing costs is the price of admission to the construction industry. We simply cannot survive if we do not know, or are not able to estimate, the cost of the work and the cost of the resources used.