Businesses incur a wide variety of expenses to fund their operations, which often includes paying wages to employees who perform services for the business. In business management and finance, labor ...

Despite being similar in dozens of ways and having many lessons we could learn from them, contractors rarely look towards the manufacturing industry for tips on how to run their operations more ...

Manufacturers have a whole host of costs that they must account for in the manufacturing process. The costs may be divided into two categories: direct costs and indirect costs. Indirect costs often ...

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.

Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies. Investopedia / Paige ...

Direct labor rates include wages, taxes, and benefits directly tied to producing goods or services. Exclude indirect labor like supervisors from direct labor rate calculations. Monitoring direct labor ...