Product costs in managerial accounting are those that are necessary to manufacture a product. Product costs equal the sum of your direct materials costs, direct labor costs and manufacturing overhead ...

Cost accounting and product costing are two accounting methods for determining the cash needed to create goods and services. A company's decision to use either accounting technique can have lasting ...

The expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by incorporating additional components such as revenues, expenses and withdrawals.

The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

Learn about gross, operating, and net profit margins, how each is calculated, and how businesses and investors can use them to analyze a company’s profitability.