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Employers have lowered labor costs by adopting automation and technology, which reduces the need for manual labor and enhances efficiency. Another common strategy is outsourcing tasks to countries with lower wage standards, allowing companies to save on salaries and benefits. Additionally, some employers have implemented flexible work arrangements, such as gig or contract positions, which often come with fewer benefits than full-time roles. These strategies help companies maintain profitability while managing labor expenses.
What else can I help you with?
What is an example of variable expense?
labor costs, raw material, transportation, etc
What are example of variable expenses?
Variable costs are costs that increase in total as output increases. For example, total labor costs increase per each hour worked; total direct materials costs increase per unit produced, etc.
What is a labor costs?
Labor Cost is the direct labor utilized to manufacture the product. For Example: 10 labor hours required to manufacture 1 unit of product and labor cost per hour is 10 so total labor cost to manufacture 1 unit is 100 (10 * 10).
Costs can either be prime costs or conversion costs but not both?
direct labor
Is Direct Labor included in Overhead costs?
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.
Which is an example of how employers have lowered labor cost?
moved factories to other countries =)
Negotiations between labor and employers?
The negotiations between labor and employers is collective bargaining.
Who lowered wages during economic depression?
During an economic depression, it is typically employers who may lower wages in order to cut costs. This can be a result of decreased demand for goods and services, leading to reduced profitability and the need to scale back expenses, including labor costs. However, it is important to note that wage reductions can also be influenced by government policies or collective bargaining agreements.
Why is the demand curve for labor downward sloping?
The demand curve for labor is downward sloping because as the wage rate decreases, employers are willing to hire more workers to save on costs and increase production.
What is an example of variable expense?
labor costs, raw material, transportation, etc
What was the legacy of the haymarket riot amog employers?
Employers grew more suspicious of labor unions.
Why do US companies outsource jobs?
To reduce labor costs
What are example of expenses?
Variable costs are costs that increase in total as output increases. For example, total labor costs increase per each hour worked; total direct materials costs increase per unit produced, etc.
What are example of variable expenses?
Variable costs are costs that increase in total as output increases. For example, total labor costs increase per each hour worked; total direct materials costs increase per unit produced, etc.
What is a consideration when determining the amount of specialized division of labor in a workplace?
For example, the degree of specialization and division of labor can be related to the size of the organization; typically, small and mid-sized employers are not able to cost justify specialized division of labor.
Why does the type of product influence where it is produced?
The type of product influences where it is produced due to factors like labor costs, skill requirements, access to raw materials, transportation costs, and market proximity. For example, labor-intensive products may be produced in countries with lower labor costs, while perishable goods might be produced closer to their market to reduce transportation time and costs.
Who negotiations between labor and employers?
Usually the unions represent labour and the management represent the employers.
