Paying attention to manufacturing costs is a necessity, no matter the size of your business, but for smaller enterprises that have lower cash reserves, carefully monitoring the production expenses is ...

Discover how the retail inventory method simplifies store inventory valuation with easy calculations, cost-to-retail ratios, ...

The best way to ensure that your pricing is competitive without pricing products too low for your business to survive is to understand your costs and the profit per piece. Once you can calculate how ...

The high-low method is used in cost accounting to estimate fixed and variable costs based on a business's highest and lowest levels of activity. By focusing on these extremes, the high-low method ...

Learn what prime cost means, its formula, and calculation methods to optimize profit margins and pricing strategies in manufacturing.

Nick has seven years of experience in the home improvement industry. He started his career marketing for dozens of flooring providers and related home services across North America. Today, he is a ...