Learn how to distinguish marginal costs by exploring their relationship with fixed and variable costs in production.

In a business, there are two types of costs: fixed and variable. It’s important to understand the difference between these two types of costs, which costs fit into each category, and how to account ...

I frequently hear talk about comparative shop labor rates and outsourcing. A lot of it makes sense, and it certainly is important to constantly check that the services you deliver are competitive with ...

Learn what irrelevant costs are in business, how they differ from relevant costs, and why knowing the distinction is crucial for effective management decisions.

So many of a business’ costs fluctuate based on operations. For example, the more products you make, the more you’ll spend on materials to make them. However, there are several important costs that ...