Define cost. cost synonyms, cost pronunciation, cost translation, English dictionary definition of cost. n. 1. An amount paid or required in payment for a purchase; a price. 2. The expenditure of something, such as time or labor, necessary for the attain
Here’s what labor cost is and how to calculate it with a labor cost formula. What Is Labor Cost?: Labor Cost Definition Labor cost is the total of wages, benefits, and payroll taxes paid to and for all employees. It’s divided into two categories: direct and indirect labor costs. Dir...
the high cost of a good meal. Synonyms:outlay,expenditure,expense,charge an outlay or expenditure of money, time, labor, trouble, etc.: What will the cost be to me? a sacrifice, loss, or penalty: to work at the cost of one's health. ...
The meaning of FLAT COST is the part of the cost (as of a building) representing direct outlay for labor and material.
The meaning of PRIME COST is the combined total of raw material and direct labor costs incurred in production; broadly : cost less vendor's or agent's commission for charges.
Define cost-of-living index. cost-of-living index synonyms, cost-of-living index pronunciation, cost-of-living index translation, English dictionary definition of cost-of-living index. n. See consumer price index. American Heritage® Dictionary of the
[OF. cost, F. coût. See Cost, Verb. T. ] 1. The amount paid, charged, or engaged to be paid, for anything bought or taken in barter; charge; expense; hence, whatever, as labor, self-denial, suffering, etc., is requisite to secure benefit. One day shall crown the all...
The service industry also has direct labor. In a restaurant, the people making the food and serving the food would be considered direct labor. So, what is direct labor cost? A direct labor cost definition is the expense of the salaries, wages, and benefits of the direct labor employees. ...
Labor costs are also classified as fixed costs or variable costs. For example, the cost of labor to run the machinery is a variable cost, which varies with the firm's level of production. A firm can easily increase or decrease variable labor cost by increasing or decreasing production. Fixed...
In contrast, a high salary can seem insufficient in an expensive city such as New York. Changes in the CPI are often atriggering event in labor and other contractswith escalation clauses. The contract will detail exactly how any periodic adjustments happen and what parts of the contract will ...