Discover what labor costs encompass, their categories—direct and indirect—and why they matter in pricing strategies to maintain profitability.

In production, labor is classified as either direct or indirect. The direct labor used is the number of labor hours worked by people who worked directly on the production of products. Knowing how much ...

Plant accountants factor labor cost to determine the effectiveness of their labor input. In order to determine the cost of a unit of production, it is necessary to add direct materials, direct labor ...

With labor being the greatest risk in construction, a full understanding of labor components will provide the estimator with the ability to determine a project’s labor costs as accurately as possible.