AccountingManufacturing Tips Production Costs: Definitions, Formulas, and How to Control Them Small businesses need to know exactly what each specific product costs to make. Not just the factory floor expenses. Everything. Production costs and manufacturing costs aren’t the same thing, even though people mix them up constantly. Get this wrong, and your pricing suffers, along with cost control. Your financial statements won’t tell you what’s really […] By Steve Maurer, IME 12 min read
