Manufacturing Cost

Hard Cost and Soft Cost are the terms that we generally come across in real estate or specifically in the construction industry. These two… Read Article

What is Computer Integrated Manufacturing?When an organization manages its manufacturing or production using computers, it is called Computer Integrated Manufacturing (CIM). In CIM, machines… Read Article

Conversion Cost: MeaningConversion cost is a combination of all the direct and indirect production costs that a company incurs to convert raw material into… Read Article

Budgeted cost is an estimate of the expenses that a company expects to spend going ahead. Or, we can say it is the expenses… Read Article

Meaning of Contract ManufacturingContract manufacturing is a process in which a company outsources its production to a third party in return for a mutually… Read Article

MeaningToll Manufacturing or Toll Processing is a process in which a company provides raw materials or semi-finished goods to a third-party servicing company. The… Read Article

Meaning of Toll Manufacturing and Contract ManufacturingToll Manufacturing and Contract Manufacturing both are forms of outsourcing of production. In both the manufacturing arrangements, Companies… Read Article

Production and manufacturing are usually understood to be the same and used interchangeably when referring to creating goods. However, production and manufacturing have minor… Read Article

What is Prime Cost?Prime Cost (or Flat Cost or First Cost) in managerial accounting is the direct cost that the company incurs in manufacturing… Read Article