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Product costing

Do you know how much is the cost of the product that you produce?

The operation of your firm in the course of time is something that depends on a combination of different factors such as employee productivity, firm's profitability, the debt to equity ratio, the firm's size and finally if there is a common vision from everyone who is working on the firm.

Quality, innovation and originality are certain factors that can make your product to be authentic and stand out among many other similar products. Considering the above, what  ensures the healtyhy course of your firm for its operation, even during a recession period, is to know exactly what is the cost of each product that you produce.

What to look for:

  • Each product is produced by using different resources. The correct but also fair distribution of the costs that are involved in the production of a product is very essential in order to carry out the right conclusions such as if it worth to produce a product but also if the combination of the products that you have choose during the production process is the right one.
  • Each firm is unique which means that is has different costs for its smooth  operation. The cost price of a product will not be the same like that of a similar product of another company in the same industry.

What you should know:

During the service of product costing there is a comparison between standard cost and the actual cost. The results of each method are analyzed in order to carry out the necessary conclusions such as:

  • How much it will cost a new product that you will produce.
  • How much it costs, precisely, a product that you already produce.
  • What categories of costs require more control in order to reduce the cost of each unit.
  • What it the profit margin of each product by customer, by group of products and by production department.
  • Indicators of productivity, efficiency and capacity.
  • Other statistics that control the cost of a product.

This service in contrast with those of the competition exempt you from any purchase of software and any additional costs. That is because the costing model is created according to the operating framework of your firm without forcing you to adapt your operations into a standard software which is being sold to everyone.

This service is provided to every small firm by encoding of the data which are analyzed. By this way we ensure you that during our cooperation, undisclosed information concerning the creating of a product is something that will remain confidential.