Businesses evaluate their product costs on a regular basis. Understanding these costs helps the company to make pricing decisions and estimate its potential profits. Each year the company creates a ...

Direct labor standard price lets you estimate your direct labor costs for production or services according to the Corporate Finance Institute. This lets you know how many employees you need to ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

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 ...