Labor Cost Calculator
How does the Labor Cost Calculator work?
The formula to calculate the labor cost is
Labor cost percentage = Total labor cost/total revenue
Modisoft’s labor cost calculator calculates the labor cost on the basis of the values you provide for annual gross hours, hourly pay rate, absent hours, additional annual costs, total revenue, and total employee count. This tool will calculate
Your employee’s total gross pay
Annual payroll labor cost
Total net hours worked
Labor cost percentage
Other annual costs
When to use the Labor Cost Calculator?
Evaluating pricing & costing
Opening a new business
Expanding your team
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