Question

Asked: Nov 08, 2009

if labor and material costs are rising is it possible for average costs to remain the same

The president of a small company has been complaining about rising labor and material costs. It has been noted that average costs have not increased during this past year.

Categories: In Money and Finance > Accounting
Industries: In Manufacturing > Machinery

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Answers

Rosmarnrown,

Did you every made any attempt to get all your operations into a database. One school of thought is "this way you can easily track what are the raising items and who are your parties (vendors, employees etc). With the help of a simple database mechanism, you can easily track an individual costing item in running your business and review various options available in the market.

Majority of the materials and labor operations are reduced especially during last two three years except few such as Gas, Gold etc..

Hope this helps.

Thank you,
-- Sree
www.usatinc.com

Answered: Nov 09, 2009

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