The low labor cost is a main comparative advantage of China's, manifested chiefly by low cost, large quantity and sufficient supply of rural labor force.
New leather multiplied by labor cost multiplied by administration cost would equal more than our first-quarter profits.
In a process costing system, all costs that are easily identified with a particular department are direct labor costs of that department. Indirect labor relates to persons whose work involves more than one department.
rising labor costs and a shortage of cotton means that China's days at the head of a denim empire could soon be numbered, the Daily Telegraph reports.
The higher labor costs for milling and weaving in Europe, where more traditional manufacturing methods are employed, account for the higher purchase price.
Terry Gou, founder and chairman, has said he wants to cut rising labor costs and improve efficiency by using the machines for simple and routine tasks such as spraying, welding and assembling.
