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LABOR COSTING FORMULAS |
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Gross pay |
Hours worked x rate per hour or number of units produced x rate per unit |
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Halsey scheme |
50% of time saved x rate per hour |
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Halsey Weir scheme |
1/3 of time saved x rate per hour |
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Rowan scheme |
(time taken/time allowed x time saved) x rate per hour |
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Time saved |
time allowed – time taken |
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Labor turnover |
Avg no of employees leaving who have to be replaced  x 100 average number employed |