Labor can account for the largest expense of manufacturing products. You should always keep track of your labor cost per unit to make sure that wages are not growing faster than profits. To do this, ...

The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

The best way to ensure that your pricing is competitive without pricing products too low for your business to survive is to understand your costs and the profit per piece. Once you can calculate how ...

It happened to all of us. You come to your office one morning and find a note from your operation manager “what will be the ASIC’s unit cost?” Although an ASIC unit cost has a direct impact on ...

Today’s economic uncertainty is leaving CEOs with little choice but to cut large line-item costs, reduce their workforce and reexamine their unit economics—their overall “cost to revenue ratio”—in ...