Manufacturing organizations typically use traditional costing as a method of determining what it costs to make products. It combines an actual cost with a factor to calculate how to allocate indirect ...

Activity-based costing, or ABC, is a costing method that managers can use for internal cost reporting and decision making. While ABC isn't allowed for external financial reporting, companies may find ...

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 ...

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 ...

Up to 80% of the cost of a new part is locked in during the early design phases where material and manufacturing processes are defined. In the past engineers relied on historical factors to cost-out ...