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What is the common ratio of labor cost to materials during a bid?

In my opinion the ratio of labor is 40% and Material is 60%


What should the relationship of material cost to labor cost be?

multiply the cost of labor by the cost of materials. add the cost of labor and materials. subtract the cost of labor from materials. divide the cost of labor by the cost of materials. which one is correct


How do you compute cost of labor on piece rate work basis?

cost of materials * 2 = labor total cost of materials *2 / total number of production (less overhead) = labor


What is the Labor to Materials Ratio?

The Labor to Materials Ratio (LMR) is a financial metric used to assess the relationship between labor costs and material costs in a project or business. It is calculated by dividing total labor costs by total material costs. A higher ratio indicates that labor costs are significantly contributing to total expenses, while a lower ratio suggests materials are more predominant. Understanding LMR can help businesses optimize their budgeting and resource allocation in construction and manufacturing industries.


How much do Candace Olsen's makeovers cost?

cost of materials and labor


Prime cost and conversion cost?

Prime cost = direct materials + direct laborwhile conversion cost = direct labor + factory overhead( which includes indirect materials, indirect labor and other indirect costs


Structural steel erection cost?

Labor materials


What is prime cost in cost accounting?

Sum of direct materials and direct labor


How you can reduce cost of manufacture?

Reduce the cost of materials, labor or overhead, or improve productivity.


Is the cost of direct materials classified as a conversion cost?

No, Conversion cost is the sum of direct labor cost and manufacturing overhead cost.


What is the typical payment terms for a contractor?

Figure out the cost of materials,and double it. That should cover all the materials, and labor.


What would it cost for the materials and labor cost of pouring a 10'x10' concrete slab?

what is a concrete laborer's salary