Budgeted Cost – Meaning, Process, BCWS and More
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
Types of Costs
Cost Behavior – Meaning, Importance, Types and More
Cost Behaviour is the change in the behavior of a cost (or costs) due to a change in business activity. The study of this… Read Article
Opportunity Cost – Meaning, Importance, Calculation And More
Meaning of Opportunity CostOpportunity Cost means the cost or price of the next best alternative available to a business, company, or investor. The next… Read Article
Contract Manufacturing
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
Toll Manufacturing
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
Toll and Contract Manufacturing
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
Appraisal Cost: Simplified Like Never Before
What is ‘Appraisal Cost’? In the common parlance, appraisal cost typically refers to expenses borne by home sellers. A house seller hires a professional appraiser… Read Article
Controllable Cost; Decoded With Illustration
What is a Controllable Cost?As the name suggests, a straightforward definition of controllable costs is costs that can be controlled. Such costs are controllable… Read Article
Production vs Manufacturing – All You Need To Know
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
Direct Material
What is Direct MaterialThink about the list of items you need to prepare a chocolate cake. Your list will include items like flour, cocoa… Read Article
FTE- Full-Time Equivalent
FTE: Meaning FTE is Full-Time Equivalent; it represents the total hours worked by a full-time employee on a regular basis. The organization uses the concept… Read Article