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Man-hour rate – the amount of man-hours which are consumed executing one unit of work activity. Man-hour rate = man-hours required for work / completed work quantity. Example: Excavation 0.125 mh/cy. The man-hour rate is related to the inverse of the production rate times the number of workers in the crew performing the work.
A man-hour or human-hour is the amount of work performed by the average worker in one hour. [1] [2] It is used for estimation of the total amount of uninterrupted labor required to perform a task. For example, researching and writing a college paper might require eighty man-hours, while preparing a family banquet from scratch might require ten ...
The wage unit is a unit of measurement for monetary quantities introduced by Keynes in his 1936 book The General Theory of Employment, Interest and Money (General Theory). [1] A value expressed in wage units is equal to its price in money units divided by the wage (in money units) of a man-hour of labour.
Total Cost per Hour: $24 + $2.08 + $4.53 + $2.88 = $33.49/hour. DepositPhotos.com. Factors Influencing Employee Costs Industry and Role-Specific Variations.
For example, a full week of 40 hours has an FTE value of 1.0, so a person working 20 hours would have an FTE value of 0.5. Certain industries may adopt 35 hours, depending on the company, its location and the nature of work. Whole-time equivalent (WTE) is the same as FTE and applies also to students in education. [7]
“Uncertainty always comes with economic transitions,” he said. “Potential shifts in trade policies, manufacturing costs or interest rates could directly impact sourcing and operations.” ...
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In economics, average cost (AC) or unit cost is equal to total cost (TC) divided by the number of units of a good produced (the output Q): A C = T C Q . {\displaystyle AC={\frac {TC}{Q}}.} Average cost is an important factor in determining how businesses will choose to price their products.