The high-low method is used in cost accounting to estimate fixed and variable costs based on a business's highest and lowest levels of activity. By focusing on these extremes, the high-low method ...

Being able to determine the behavior of your business costs gives you a better chance to develop methods to control them. While learning these terms may take a little time, the added benefit of ...

Discover how to calculate variable overhead spending variance, its impact on costs, and examples of favorable vs. unfavorable variances in business operations.

Cost accounting may not be the most exciting way for a business owner to spend a Friday night. However, understanding the basics of cost accounting can help you track costs, increase profits, and ...

There are many inputs related to the production of goods and services, not to mention the associated production costs. These expenses can be divided into different categories. Direct costs and ...