Cost accounting and product costing are two accounting methods for determining the cash needed to create goods and services. A company's decision to use either accounting technique can have lasting ...

Product costing is the process of assigning costs to inventory and production based on the expenses that go into producing or buying inventory. It is an especially important process for manufacturers, ...

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 ...

Assigning manufacturing overhead to products often feels like navigating a labyrinth. It's not as straightforward as tracing ...

The supply chain disruptions that characterize the COVID-19 pandemic can wreak havoc with profitability. As sources of supply constantly shift, it’s difficult for the product engineers, cost ...

The income statement under absorption costing presents gross profit as sales revenue less the cost of goods sold. The income ...