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, ...

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 ...

The term "overhead" refers to the costs associated with producing a good or service that are essential but are not directly involved in the production process. For instance, you have to maintain ...

The Construction Labor Productivity Calculator from Stevens Construction Institute measures “what is produced and billable for the cost (or hours) expended.” The app can be used to determine ...

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 ...