Direct labor rates are the labor costs directly resulting in the production of a product or delivery of a service. These costs include wages as well as payroll taxes, insurance, retirement matches, ...

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 ...

Direct labor standard price lets you estimate your direct labor costs for production or services according to the Corporate Finance Institute. This lets you know how many employees you need to ...

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.

The construction industry is known for its complex and fluctuating costs. To effectively budget for a construction project, it’s essential to consider all the different labor costs. Here are some ...

One of our readers recently sent in the following question regarding per-order labor costs and how to calculate them: “Do the labor costs relate only to pickers and packers of the orders? What about ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Erika Rasure is globally-recognized as a ...