Process costing is a management accounting function. Business owners use this function to accurately calculate and apply the business costs for producing specific types of goods. Process costing ...

Two methods are commonly employed to value inventory -- variable costing and absorption costing. The difference between the two is in their treatment of operational overhead. Variable costing only ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...