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How do you get Direct Labor for a service company?
Direct labor for service company is the salary or wage cost of the person who is performing the services like in software industry the salary of software engineer is direct labor cost as well as the technical lead etc.
When using a single cost driver to allocate overhead cost?
When using a single cost driver to allocate overhead costs, it's important to choose a driver that accurately reflects the relationship between the overhead and the activity being measured. Common cost drivers include machine hours, labor hours, or units produced. This method simplifies the allocation process but may not capture the complexity of overhead costs tied to multiple activities. Consequently, it can lead to inaccuracies in product costing if the chosen driver does not correlate well with the actual consumption of overhead resources.
What are inventory cost drivers?
Inventory cost drivers are factors that influence the total costs associated with holding and managing inventory. Key drivers include purchase costs, storage costs, handling and labor expenses, and obsolescence risks. Additionally, demand variability, lead times, and order quantities can also impact inventory costs. Understanding these drivers helps businesses optimize inventory levels and reduce overall expenses.
Why does cost of sales increased?
The cost of sales may increase due to several factors, including rising raw material prices, higher labor costs, or increased production expenses. Additionally, a larger volume of sales can lead to greater overall costs, even if per-unit costs remain stable. Changes in supplier pricing, supply chain disruptions, or shifts in product mix can also contribute to this increase. Ultimately, these factors can impact a company's profit margins if not managed effectively.
What are the inadequacies of traditional method of overhead absorption?
Traditional overhead absorption methods often allocate overhead costs based on a single metric, such as direct labor hours or machine hours, which can lead to inaccurate cost assignments. This approach fails to account for the complexity of modern production environments where multiple activities drive overhead costs. Consequently, it can result in distorted product costs, misinformed pricing strategies, and suboptimal resource allocation. Additionally, it may not reflect the actual consumption of resources by different products or services.
Why do lower labor cost in the other countries lead to job loss in the US?
Lower labor costs in other countries led to job loss in the United States because it is more cost efficient, the lower wages makes it less costly to have the same amount of workers.
Why do lower labor cost in other countries lead to job losses in the US?
Lower labor costs in other countries led to job loss in the United States because it is more cost efficient, the lower wages makes it less costly to have the same amount of workers.
Why do labor costs in other countries lead to job loss in the United states?
Lower labor costs in other countries lead to job less in the United States because it enables producers to undersell domestic producers.
Why does globalization lead to a reduction in wages in developed countries?
Increased mobility allows producers to move jobs to lower-cost labor markets.
Why do lower costs in other countries lead to job loss in the unite states?
Lower labor costs in other countries lead to job less in the United States because it enables producers to undersell domestic producers.
Why do lower labor costs in other countries lead to jobs in the US?
Lower labor costs enable producers to export inexpensive products to the United States.
Why do lower labor costs in the other countries lead to jobs loss in the US?
Lower labor costs enable producers to export inexpensive products to the United States.
Why do lower labor costs in the other countries lead to job loss in the united sates?
Simply because - if an american company can get a product made cheaper overseas (including the cost of transporting it) - then there is no point employing americans at a higher wage to do the same job ! It's the same in most 'western' countries !
Why do lower costs in other countries lead to job loss in the US?
Lower labor costs enable producers to export inexpensive products to the US, which would lead to job loss in the United States.
How do you get Direct Labor for a service company?
Direct labor for service company is the salary or wage cost of the person who is performing the services like in software industry the salary of software engineer is direct labor cost as well as the technical lead etc.
How does urbanization and competitive global economy lead to deforestation?
The urbanization and competitive global is what raises the labor cost. This is for farmers.
What is the impact of changes in the marginal cost of labor on a company's overall production costs?
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.
