A business that produces goods or services must develop and maintain accurate estimates of the cost of production. Direct labor, meaning toe work required to actually make a product, is a critical ...

In production, labor is classified as either direct or indirect. The direct labor used is the number of labor hours worked by people who worked directly on the production of products. Knowing how much ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

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.

Touch labor refers to the hands-on aspects of production or the technical aspects of an organization's tasks or services. You can directly trace touch labor costs to a product. It is usually at the ...