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 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, ...

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 ...