Product costing is a methodology associated with managerial accounting, i.e., accounting intended to serve management in an operational context rather than to measure corporate performance as such, ...

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, ...

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 ...

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

Activity-based costing (ABC) is an accounting method that allows businesses to gather data about their operating costs. Costs are assigned to specific activities—planning, engineering, or ...

Clariant and Mibcon NDC sign a cooperation agreement to improve and automate the product costing forecasting process by cooperating on the development of a standardized SAP application for the ...

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 ...

Similar to financial accounting, managerial accounting accumulates and analyzes data to make logical economical decisions. "Variable costing" is an accounting decision-making tool that managers ...