Direct materials cost is a main component of a product's total cost along with direct labor cost and manufacturing overhead. While no business' costs can remain constant because of changes in both ...

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 ...

Accountants can use standard costing to identify variances in business operating statistics. Variance analysis can help a business narrow in on areas of operations that aren't performing as they ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Somer G. Anderson is CPA, doctor of ...