If you own your own business or are responsible for running someone else's company, you'll have to separate your production costs into various categories before you can analyze how well your business ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J. Brock is a CFA and CPA with more ...

Businesses large and small incur costs for materials and labor for all goods or services produced. Adequately controlling labor costs is essential to achieving profitability goals. Effective ...

Direct labor rates are the labor costs directly resulting in the production of a product or delivery of a service. These costs include wages as well as payroll taxes, insurance, retirement matches, ...