Cost allocations using the direct labor method of accounting work the best when a business produces only one or two types of products. Using this traditional method of determining a company's labor ...

From clean toilets to working computers, your company incurs many costs that it cannot assign to one particular "cost object" -- a product, project, department or service. You must nonetheless cover ...

Proper job costing includes all costs associated with a job They include materials, labor, permits, subcontractors, equipment rentals and overhead costs applied to the job How do we allocate the ...

Last month, we provided an article on overhead calculation and rate. That was Overhead Rates 101. In this month’s guest column, Ken Hedlund, Somerset CPAs (somersetcpas.com), introduces a more ...

Every business leader should probably have at least a rudimentary understanding of accounting. It’s not about becoming an accountant; it’s just about knowing enough not to get fooled or fool yourself.