SPRINGFIELD, MA - From January 30–31, 2014, The Markens Group, Inc. hosted its annual Machine Hour Rate and Profit Planning Fundamentals workshop in Miami, FL for 16 financial and sales management specialists.

Participants were taught profit planning oversight tools for boosting profits, including key formulas and the necessary steps for determining the accurate cost of labor. The seminar also provided valuable skills for creating direct and indirect labor budgets as well as machine variable budgets.

“Developing complex, specialized budgets and machine hour rates for costing and pricing are not simple tasks,” noted Ben Markens, principal at the Markens Group, Inc. “But this two-day course breaks it all down into useful formulas and strategies. I’m confident our attendees left with new knowledge, refreshed and ready to boost profits at home.”