Discover how efficiency variance reveals the gap between expected and actual inputs in production and its impact on labor, materials, and costs.

As a small-business leader, taking care of the bottom line is critical for growth, as well as for maintaining your current payroll and customers. Understanding sales price variance can help you ...

Facilities that focus on manufacturing and production track two kinds of costs: fixed costs and variable costs. The variable costs are those that change when production levels change: raw materials, ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Somer G. Anderson is CPA, doctor of ...