Overhead costs play a significant role in the financial management of service industries. These expenses are essential for running the day-to-day operations of a business, but they are not directly tied to the production of goods or services. In service industries, overhead costs can vary widely depending on the nature of the business. Let's take a look at some examples of common overhead costs in service industries:
Managing overheads is a crucial aspect of running a successful business in the service industry. Overheads refer to the ongoing expenses of operating a business that are not directly tied to the production of goods or services. In service industries, managing overheads effectively can have a significant impact on the profitability and sustainability of the business.
