Labor cost means the direct labor cost incurred by business to manufacture units of products to be sold.
To reduce labor costs
Material break out means to itemize the costs of materials for a specific project or to separate them from the labor, management, etc. costs.
direct labor
Direct labor are not part of overhead costs and shown separately while indirect labor are part of overhead costs and included in overhead cost because those labor cannot be allocated separately or identifiable separately.
Salaries and wages of workers directly involve in goods manufacturing is direct labor cost.
Changes in the marginal cost of labor can significantly impact a company's overall production costs. When the marginal cost of labor increases, it can lead to higher production costs for the company as they have to spend more on labor. Conversely, if the marginal cost of labor decreases, the company's production costs may decrease as well. This relationship between labor costs and production costs is crucial for companies to consider when making decisions about their workforce and production processes.
To take advantage of lower labor costs
Without any government influences, the main driver of labor costs is supply/demand. Generally however, a system of minimum wages exists which raise labor costs to a particular level.
In the business world, BoQ means "bill of quantities." A bill of quantities is a document used in tendering in the construction industry in which materials, parts, labor, and labor costs are itemized.
it is direct labor plus overhead costs
some companies have outsourced jobs to Another Country as they can reduce labor costs that way.
Reduced labor costs.