The Costing Problem (Classic Reprint)

Understand the true cost of making things—and how to use that knowledge to run a safer, more efficient factory.

This book explains factory costing from the ground up, showing how to allocate expenses so you can see where every cost comes from and how it affects unit prices and profits.

Written for managers, engineers, and practitioners, it emphasizes practical methods, the role of labor in cost, and the need for reliable, consistent records. It covers different uses of costs—industrial, technical, commercial, and financial—and explains why a clear costing system helps improve production efficiency and pricing decisions.

• How to separate prime costs from overhead and apply oncosts without distorting results
• Approaches to approximating costs when exact data isn’t available, with attention to machine versus hand work
• Techniques for valuing stock and work in progress to avoid obsolescence and overstatement
• Guidance on involving labor in cost discussions and aligning costs with management goals

Ideal for readers seeking a solid, field-tested approach to factory accounting and cost control.