Understanding Labor Burden Rates: Boost Your Profit Margin

Understanding Labor Burden Rates: Boost Your Profit Margin

In this video, we detail the process of calculating labor costs for a supervisor over three days by incorporating burden rates and profit margins. By breaking down hourly rates, overhead, and profit calculations, the video provides a clear method to determine extended costs and unit prices for accurate budgeting and financial planning.

00:00 Introduction to Supervisor Requirements
00:16 Calculating Burden Rate and True Cost
00:41 Unit Cost Formula Breakdown
01:08 Extended Cost Calculation
01:15 Overhead, Profit, and Final Pricing

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