Labor can account for the largest expense of manufacturing products. You should always keep track of your labor cost per unit to make sure that wages are not growing faster than profits. To do this, ...

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 ...

The best way to ensure that your pricing is competitive without pricing products too low for your business to survive is to understand your costs and the profit per piece. Once you can calculate how ...

The next time you go shopping, make sure you're getting the best deal by calculating the cost per unit. To figure out the cost per unit, you need to divide the price of the item by the amount of ...

Overhead costs are expenses tied to things other than the production of goods or services. Here's how to calculate overhead.

The construction industry is known for its complex and fluctuating costs. To effectively budget for a construction project, it’s essential to consider all the different labor costs. Here are some ...

A two-day workshop this December in Gordon will provide a hands-on learning experience for producers to learn how to calculate unit cost of production for a cow-calf operation. Having information to ...

Last month, we discussed how you could get better control of the equipment you own and rent. This month, we’re going a step further by offering up a couple of ways to collect and analyze the data.