Understanding total manufacturing costs is an important step for those who want to improve manufacturing productivity. The total cost of manufacturing refers to the cost incurred to produce a product, and it includes the cost of materials, labor, and overhead. In contrast, manufacturing costs, for the most part, are sensitive to changes in production volume. …
Total Manufacturing Costs: How and Why to Calculate Them Read More »
Let us take the example of another company to understand the concept of cost of sales in further detail. At the beginning of the year, the company had an inventory of 5,000 units that are worth $50 each. However, during the year the price of the raw material surged to $55 per unit and the …
What is Cost of Sales COS? Formula and Calculation Glossary Read More »
If the company sells 26,000 units, the accountant can record that as 26M units. The MM abbreviation works whether the entry is in dollars, some other currency or millions of items or customers. Did you observe different set of fields appears for different transaction keys in OBYC while maintaining G/L account? A qualified team of …
You receive free access to all study materials, webinars (live and recorded), and examinations after you create your QuickBooks Online Accountant account. To pass this exam, you must prepare as you would for any other. To begin the training, go to the ProAdvisor link in your QuickBooks Online Accountant screen’s left menu bar and select …
Become a Certified ProAdvisor, QuickBooks Intuit Read More »
Even if your business is profitable and meeting its benchmarks, that doesn’t mean your operational costs are where they should be. As a shop owner, part of your job is to ensure that all items in your shop are accounted for at all times. Even if an item gets misplaced, it’s important to track where …
Bookkeeping For Auto Repair Shops: Things You Need to Know Read More »
Some online bookkeeping courses are free, while some require payment. The members of the NBA typically include bookkeeping employees of small businesses and non-profit organisations. Such an association helps bookkeepers develop knowledge and skill via bookkeeping education and accreditation. Furthermore, the NBA trains and certifies bookkeeping students and employees in bookkeeping, accounting, payroll, tax, excel, …
