The labor estimate is 1.5 x 40= $60.
When Marcus and Tony collaborate, their rates are added together. One job is to "lay a slab of concrete." Consider the rates to represent the number of jobs per hour.
Marcus charges 1/6 of the task per hour.
Tony charges half a work for each hour.
At the same time, Tony and Marcus both put in R tasks per hour.
1/6 + 1/2 = R
They will labor 1/R = 1(2/3) = 1.5 hours to complete the task since R = 2/3 job per hour.
The labor estimate is 1.5 x 40= $60.
A component of the wage bill or payroll known as labor cost can be precisely and consistently attributed to or related with the production of a good, a specific job order, or the delivery of a service. The total of all employee salaries, employee benefits, and payroll taxes paid by a company is the cost of labor. There are direct and indirect (overhead) expenses associated with labor.
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