Cost of labor definition

Cost of labor means the proportion of the wages that will actually be or would have actually been paid to or received by such laborers, mechanics, and workmen and the proportion of the premiums that would actually be or would have actually been paid for worker's compensation insurance or longshoremen's and harbor workers' insurance upon the basis of such wages.
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Cost of labor means the proportion of the wages that will actually be or would have actually been paid to or received by such laborers, mechanics, and workmen and the proportion of the premiums that would actually be or would have actually been paid for workman’s compensation, insurance, social security, unemployed or any other fringe benefit required by an agreement or customary to the trade upon the basis of such wages.
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Cost of labor as used in MCL 205.93a(1)(g) means the cost of “direct labor” as outlined in Section III of this RAB. The cost of labor does not include payments made for shipping assembly, loading and unloading or otherwise transporting the product to the job site.
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Examples of Cost of labor in a sentence

  • Inventory at beginning of year ~~~ 2 Purchases ~~~~~~~~~~~ 3 Cost of labor~~~~~~~~~~~ 4 a Additional section 263A costs(attach schedule) ~~~~~~~~b Other costs (attach schedule) ~~~5 Total.

  • Cost of labor for any adjustments or service calls or cost of labor for diagnosing, repairing, removing, installing, shipping, handling or replacing parts or components that have failed due to defects in materials and workmanship.

  • Cost of labor provided to a retailer for services such as the installation of dispensing systems and the pouring or serving of alcohol beverages (except as allowed by regulation 47-322(B)(2)) shall be at least at a minimum of that employee's hourly wage.

  • Cost of labor and materials to perform the repairs is an extra charge and shall be paid by Gilbert.

  • Cost of labor shall include actual wages paid including employer payments to or on behalf of the workers for health and welfare, pension, vacation, and similar purposes plus payments imposed on payroll amounts by state and federal laws plus subsistence and travel allowance payments to workers.

  • Cost of labor, materials and equipment plus overhead and profit as indicated below.

  • Cost of labor (including base labor rate, insurance, taxes and fringe benefits).

  • If different from lastyear's closing inventory, attach explanation 36 Purchases less cost of items withdrawn for personaluse 37 Cost of labor.

  • Cost of labor may be submitted in either Unit Price or Lump Sum.VALUE ADDED TAX (VAT) The Government will not reimburse the Contractor for VAT under this contract.

  • Cost of labor for any adjustments or service calls, or cost of labor for diagnosing, repairing, removing, installing, shipping, handling or replacing parts or components that have failed due to defects in materials and workmanship.


More Definitions of Cost of labor

Cost of labor means the sum total of direct wages paid, payroll taxes required by law, workers’ compensation insurance, holiday, vacation and sick time benefits, health benefits and pension benefits. No other costs, expenses or items shall be included as a direct labor cost.
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Related to Cost of labor

  • Forced Labor means knowingly providing or obtaining the labor or services of a person-

  • Effective State average tax rate means the average of effective county tax rates for all counties.

  • Adjusted LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

  • Daily Adjusting LIBOR Rate means, for any day, a per annum interest rate which is equal to the quotient of the following:

  • Price Index means the "Consumer Price Index" published by the Bureau of Labor Statistics of the U.S. Department of Labor, All Items. New York, N.Y.--Northeastern, N.J., all urban consumers (presently denominated "CPI-U"), or a successor or substitute index appropriately adjusted. (iii) the term "Price Index for the Base Year" shall mean the average of the monthly All Items Price Indexes for each of the 12 months of the Base Year.

  • Forced labor or services means labor or services that are performed or provided by another person and are obtained or maintained through coercion.

  • Projected actual emissions means the maximum annual rate, in tons per year, at which an existing emissions unit is projected to emit a regulated NSR pollutant in any one of the 5 years (12-month period) following the date the unit resumes regular operation after the project, or in any one of the 10 years following that date, if the project involves increasing the emissions unit’s design capacity or its potential to emit that regulated NSR pollutant, and full utilization of the unit would result in a significant emissions increase, or a significant net emissions increase at the major stationary source.

  • Cost of Living Adjustment means the percentage (if any) by which the Consumer Price Index for the month of October preceding the adjustment ex- ceeds the Consumer Price Index for the month of October one year before the month of October preceding date of the adjustment.

  • Adjusted LIBOR Rate means, at any time with respect to any LIBOR Loan, a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Margin Percentage for LIBOR Loans as in effect at such time.

  • Applicable LIBOR Rate means, (a) for Auction Periods of 35 days or less, One-Month LIBOR, (b) for Auction Periods of more than 35 days but less than 91 days, Three-Month LIBOR, (c) for Auction Periods of more than 90 days but less than 181 days, Six-Month LIBOR, and (d) for Auction Periods of more than 180 days, One-Year LIBOR.

  • HICP Daily Inflation Reference Index means (i) in relation to the first day of any given calendar month, the HICP Monthly Reference Index of the third calendar month preceding such month, and (ii) in relation to a day D (other than the first day) in any given month ("M"), the linear interpolation of the HICP Monthly Reference Index pertaining respectively to the third calendar month preceding such month ("M – 3") and the second calendar month preceding such month ("M – 2") calculated in accordance with the following formula:

  • Daily LIBOR Rate means, for any day, the rate per annum determined by the Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the Reserve Percentage.

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • LIBO Rate means, with respect to any Eurodollar Borrowing for any Interest Period, the LIBO Screen Rate at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period; provided that if the LIBO Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”) then the LIBO Rate shall be the Interpolated Rate.

  • National Cost of Funds Index The National Monthly Median Cost of Funds Ratio to SAIF-Insured Institutions published by the Office of Thrift Supervision.

  • Adjusted LIBOR means, for any Borrowing of Eurodollar Loans, a rate per annum determined in accordance with the following formula: Adjusted LIBOR = LIBOR

  • CPI Daily Inflation Reference Index means (A) in relation to the first day of any given month, the CPI Monthly Reference Index of the third month preceding such month, and (B) in relation to a day (D) (other than the first day) in any given month (M), the linear interpolation of the CPI Monthly Reference Index pertaining respectively to the third month preceding such month (M - 3) and the second month preceding such month (M - 2) calculated in accordance with the following formula:

  • CPI-W is defined as the Consumer Price Index for Urban Wage Earners and Clerical Workers (Area: Boston-Brockton-Nashua, MA-NH-ME-CT; Base Period: 1982-1984+100) as published by the United States Department of Labor, Bureau of Labor Statistics.

  • Limited Indexation Factor means, in respect of a Limited Indexation Month or Limited Indexation Date, as the case may be, the ratio of the Index Figure applicable to that month or date, as the case may be, divided by the Index Figure applicable to the month or date, as the case may be, twelve months prior thereto, provided that (a) if such ratio is greater than the Maximum Indexation Factor specified in the relevant Final Terms, it shall be deemed to be equal to such Maximum Indexation Factor and (b) if such ratio is less than the Minimum Indexation Factor specified in the relevant Final Terms, it shall be deemed to be equal to such Minimum Indexation Factor;

  • Reference Index means each of the indices comprising the Reference Portfolio.

  • CPI means the headline consumer price index (for all urban areas) annual inflation rate, or such amended or replacement index, as published monthly by Statistics South Africa in Statistical Release P0141, available from <http://www.statssa.gov.za>.

  • Amendment Labor Rates means the schedule of fully-loaded hourly labor rates attached as

  • Base LIBOR Rate means the rate per annum, determined by Agent in accordance with its customary procedures, and utilizing such electronic or other quotation sources as it considers appropriate (rounded upwards, if necessary, to the next 1/16%), on the basis of the rates at which Dollar deposits are offered to major banks in the London interbank market on or about 11:00 a.m. (California time) 2 Business Days prior to the commencement of the applicable Interest Period, for a term and in amounts comparable to the Interest Period and amount of the LIBOR Rate Loan requested by Administrative Borrower in accordance with this Agreement, which determination shall be conclusive in the absence of manifest error.

  • Adjusted One Month LIBOR Rate means, an interest rate per annum equal to the sum of (i) 1.00% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the Screen Rate at approximately 11:00 a.m. London time on such day.

  • Baseline actual emissions means the rate of emissions, in tons per year, of a regulated NSR pollutant, as determined in accordance with paragraphs (i) through (iv) of this definition.

  • Highest Average Compensation means the average compensation for the three consecutive years of service with the employer that produces the highest average.