Corporations, as well as nonprofit organizations, use cost centers to keep track of expenses. A cost center is a unit within a larger system that is responsible for a particular set of activities that ...

Equipment management is a complex and difficult task that affects almost every aspect of a company’s operations. The skills required vary from the master mechanic to the finance specialist and ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

Marginal cost refers to the change in total cost arising from the production of one additional unit. For example, in a manufacturing firm, the marginal cost will give a measure of the change in total ...

Marginal costs of production are defined as the overall change in costs when a company or manufacturer increases the amount produced by one unit. Marginal costs can help firms determine the level at ...