Prime cost = direct materials + direct laborwhile conversion cost = direct labor + factory overhead( which includes indirect materials, indirect labor and other indirect costs
103/101 = 1.0198 So, if there are no other changes, (eg in capital productivity) inflation is 1.98 %. For small percentage changes, it is usually safe to take 3% - 1% = 2% since the estimation error in these figures is likely to be greater than the rounding error between 1.98 and 2.0
Direct Labor.
Location, Climate, Raw Materials, Labor, Market and Transportation
The largest factor is the amount of labor.
15 percent
About 78% of the labor force in Afghanistan is invloved in agriculture.
Labor-force participation rate
Up to 2009: the total No. is about 27,750,712.
a large percentage of the labor force was japanese.!
a large percentage of the labor force was japanese.!
the percentage of the total labor force that is unemployed
1 million
but
10.8 percent
force labor
The region with the lowest percentage involved in the labor force varies depending on the specific time period and country being referred to. However, historically regions with low labor force participation rates include parts of Sub-Saharan Africa, rural areas in developing countries, and regions experiencing significant economic downturn or conflict.