Discover how absorption costing is used in GAAP for external reporting. Learn its components and why it's essential for ...

Production planning requires companies to review several areas of business operations before investing capital into new production systems. Proper planning allows companies to determine how successful ...

Traditional manufacturing refers to manufacturing principles focused on producing a certain set number of products each period and holding a reserve in case of unexpected demand or shortages. This ...

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 ...

Activity based costing (ABC) is an accounting technique that aims to clarify exactly how and where a company makes its profit. ABC assigns costs to all the resources needed to carry out a particular ...