It is not always practical for a company to keep track of actual costs of each item in inventory. Goods may be sold in random batches, and it is easy to lose track of inventory costs in relation to ...

In manufacturing facilities, equivalent units of production are calculated to determine the value of a department's work-in-process inventory at the end of an accounting period. EUPs represent 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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Suzanne is a content marketer, writer, and ...