Discover what labor costs encompass, their categories—direct and indirect—and why they matter in pricing strategies to maintain profitability.

The cost of labor is the amount of employee wages and benefits, plus payroll taxes paid by an employer. The cost of labor can be broken into direct and indirect costs. Direct labor costs are those ...

Development costs are the costs a business incurs from researching, growing and introducing a new product or service. Development costs are commonly referred to as research and development costs.

An asset’s cost basis is the amount it was purchased for, including any associated fees. An investor’s cost basis is the amount they paid for an asset when they purchased it, including any commissions ...

Discover the components and calculation of original cost, including purchase price, commissions, and depreciation, to understand its impact on tax and asset valuation.

The study that projects the costs and benefits of a new information system. Costs include people and machine resources for development as well as running the system. Tangible benefits are derived by ...

Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen.

SAE Transactions, Vol. 106, Section 5: JOURNAL OF MATERIALS & MANUFACTURING (1997), pp. 772-776 (5 pages) The Value Engineering (VE) process, and therefore, the equation "Value = Function/Cost" is ...