Direct materials cost is a main component of a product's total cost along with direct labor cost and manufacturing overhead. While no business' costs can remain constant because of changes in both ...

In business, management sets the standards of what quantity of materials should be used for a particular job. Especially on a manufacturing production line, unit cost plays a significant role in the ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Somer G. Anderson is CPA, doctor of ...