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 ...

Cost and schedule variance data are part of earned value analysis, which is a tool that small and large businesses use as an early-warning system to identify and manage problems in ongoing projects.

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 ...