Tag: Labor Estimate

How do you calculate labor cost?

Posted by In Blog, Cost Estimation, MEP Estimation

The labor rate formula is the hourly wage plus the hourly cost of taxes for that employee plus the hourly cost of any fringe benefits or expenses. This may be expressed as labor rate (LR) = wage (W) + taxes (T) + benefits (B). Does an estimate include labor? An estimate should be the contractor’s best […]