Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

Plant accountants factor labor cost to determine the effectiveness of their labor input. In order to determine the cost of a unit of production, it is necessary to add direct materials, direct labor ...

Cost of goods sold (COGS) is the determination of how much it costs retailers, wholesalers and manufacturers to produce the goods they sell. For makers and resellers of products, COGS, sometimes also ...

The service industry is highly competitive and, as a result, service providers are always looking for more efficient ways to operate that will reduce their overall costs. One of these is cost ...

Gain a comprehensive understanding of the marginal cost formula. Learn how to calculate it and explore its role in business decisions. The world of microeconomics and business decision-making hinges ...

Brian Beers is a digital editor, writer, Emmy-nominated producer, and content expert with 15+ years of experience writing about corporate finance & accounting, fundamental analysis, and investing.

There are many costs associated with running a business, but all of those costs don’t fall into the same bucket. One type is overhead costs, which are expenses not tied directly to the production of a ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

This is a preview. Log in through your library . Abstract When deciding upon the price to charge for one of their products, the managers of the Soho Foundry in Birmingham placed great reliance upon ...

Calculation of costs of different medical and surgical services has numerous uses, which include monitoring the performance of service-delivery, setting the efficiency target, benchmarking of services ...