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 ...

Businesses evaluate their product costs on a regular basis. Understanding these costs helps the company to make pricing decisions and estimate its potential profits. Each year the company creates a ...

Opadiran (1987) defined Direct Labour Procurement as a process by which a project is executed by the workers of an organisation instead of the project being contracted out. It can simply be described ...

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.