Labour Cost definition

Labour Cost means the direct labour rate per hour specified in a Virtual Systems House Agreement for Flextronics to perform an activity applicable to a Product at a Site. For greater certainty, the Labour Cost may vary for each Site, for each Product, and/or specific activity relating to a Product.
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Labour Cost. Index” (LCI) is a short-Term indicator showing the short-Term development of hourly labour costs incurred by employers, the total cost on an hourly basis of employing labour. In other words, the LCI measures the cost pressure arising from the production factor “labour”. The LCI used in this Agreement must be taken from Labour Cost Index, Salary and Wage Rate (LCIQ SG51M1) - Table 4, All Sectors combined, MN1 Professional, Scientific and Technical Services), published by Statistics NZ (xxx.xxxxx.xxxx.xx). The base year labour cost index is the average of the labour cost indices for four quarters of 2018. Labour Cost Index (Salary and Wage Rates), is calculated as an average if the previous calendar year’s four quarters.
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Labour Cost has the meaning given to it in Appendix B (Description of Labour and Labour SPV Costs Subject to Re-basing and Process for Updating the Model following Re-basing) to Part E (Market Testing, Benchmarking and Indexing) of Schedule 8 (Variations); Labour SPV Cost has the meaning given to it in Appendix B (Description of Labour and Labour SPV Costs Subject to Re-basing and Process for Updating the Model following Re-basing) to Part E (Market Testing Benchmarking and Indexing) of Schedule 8 (Variations); Labour Re-basing Indexation Rate means the index or, failing such publication or in the event of a fundamental change to that index, such amendment to that index or such other index as the parties may agree (in each case with the intention of putting the parties in a no better no worse position than they would have been had the index not ceased to be published or the relevant fundamental change not been made) or in the event that no such agreement is reached between the parties, as may be determined by the Dispute Resolution Agreement;
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Examples of Labour Cost in a sentence

  • Only offers from bidders with “Mark-up and Overheads” of at least 15% of Total Direct Labour Cost will be considered.

  • Cost Accounting: Objectives, Classification of Cost, Preparation of Cost Sheet, Material Cost Accounting, Perpetual Inventory Control, Inventory Valuation, EOQ, ABC Analysis, Setting of Reorder Level, Maximum Level, Minimum Level, Labour Cost Accounting, Remuneration and Incentive Schemes.

  • As the index utilized for the actual Labour Cost component may not be available for the complete calendar year, the consecutive 12 month period for which the index utilized for the Labour Cost component is most recently available is used as a substitute for the calendar year for purposes of the Labour Cost component inflation adjustment.

  • Labour Cost required to carry out the repair or replacement of the damaged child-parts of the Engine or damaged gear box, differential and transmission assembly.

  • In intervening years, these costs will be increased by the annual movement in an appropriate index, such as the Producers Price Index or the Labour Cost Index, and will be checked for continued reasonableness by the Milk Price Group against movements in Fonterra’s actual and budgeted costs, having particular regard to any significant change in Fonterra’s overhead costs (such as any change resulting from a restructuring).

  • Prime Cost.- The aggregate of Direct material Cost, direct Labour Cost and Variable Direct expenses (or chargeable expenses) is the prime Cost.

  • UNIT-III: LABOUR AND OVERHEADS:Labour: Direct and Indirect Labour Cost – Methods of Payment of Wages (only Incentive Plans): Halsey, Rowan, Taylor Piece Rate and Merrick Multiple Piece Rate Methods.Overheads: Classification - Methods of Allocation - Apportionment and Absorption of overheads.

  • For the analysis of training and wages we have used data from the Structure of Earnings Sur- veys of the years 2002 and 2006 and have linked them with data from the Labour Cost Sur- veys of the years 2000 and 2004.

  • For the purposes of this adjustment calculation, “inflation” will be determined on the basis of two components: a) a Consumer Price Index (“CPI”) component, weighted at 65%, based on the annual Conference Board of Canada’s forecast for Statistics Canada CANSIM Services V41694625 – CPI, 2005 Basket, 2002 = 100, Alberta, All Items; and b) a Labour Cost component, based on the annual Conference Board of Canada’s forecast for Statistics Canada CANSIM Series V1603533, weighted at 35%.

  • Cost includes direct material, Work Expenditure, Labour Cost and appropriate overheads excluding refundable duties and taxes.


More Definitions of Labour Cost

Labour Cost means the sums payable by the Assured to labourers directly employed by the Assured solely in relation to the construction of the Vessel plus the Assured's overhead on such sums and shall not include the Assured’s profit on such sums. Where the Assured consists of the Builder and the Buyer, the "Labour Cost" shall be the sums payable by the party which has employed the labourers.
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Related to Labour Cost

  • book cost means the total amount paid to purchase a security, including any transaction charges related to the purchase, adjusted for reinvested distributions, returns of capital and corporate reorganizations;

  • Trip Cost means the dollar amount of Trip payments or deposits paid by the Insured prior the Insured’s Trip Departure Date and shown on any required application which is subject to cancellation penalties or restrictions. Trip cost will also include the cost of any subsequent pre-paid payments or deposits paid by the Insured for the same Trip, after application for coverage under this plan provided the Insured amends the Application to add such subsequent payments or deposits and pays any required additional plan cost prior to the Insured’s Departure Date.

  • Tax Cost means any increase in Tax payments otherwise required to be made to a Taxing Authority (or any reduction in any refund otherwise receivable from any Taxing Authority).

  • Standard Cost means any cost computed with the use of preestablished measures.

  • Labor costs means total compensation of all employees, not to include compensation paid

  • Net cost means the Contractor’s actual cost after deducting all permitted cash and trade discounts, rebates, allowances, credits, sales taxes, commissions, and refunds (whether or not any or all of the same shall have been taken by the Contractor) of all parts and materials purchased by the Contractor solely for the use in performing its obligation hereunder provided, where such purchase has received the prior written approval of the Manager as required herein. The Contractor shall promptly furnish to the Manager such bills of sale and other instruments as the Manger may require, executed, acknowledged and delivered, assuring to the Manager title to such materials, supplies, equipment, parts, and tools free of encumbrances.

  • FTE Cost means, for any period, the FTE Rate multiplied by the number of FTEs in such period.

  • Estimated Cost , for the purposes of rule 22, means the estimated cost to maintain, repair or replace a major capital item;

  • Contract Cost means the Contract Sum plus Price Variation. This cost shall be included in the letter of acceptance.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Manufacturing Cost means [***].

  • Total Development Cost means the total of all costs incurred in the completion of a Development, all of which shall be subject to the review and approval by the Credit Underwriter and the Corporation pursuant to this rule chapter, and as further described in Rule 67-48.0075, F.A.C.

  • Stranded cost means the amount by which the net cost of an

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • The Contract Price/Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Direct Cost means a cost not to exceed the cost of labor, material, travel and other expenditures to the extent the costs are directly incurred to provide the relevant assistance or service. “Direct Cost” to the Acquirer for its use of any of a Respondent’s employees’ labor shall not exceed the average hourly wage rate for such employee;

  • Life-cycle cost means the expected total cost of ownership during the life of a product, including disposal costs.

  • Patient cost means the cost of a medically necessary health care service that is incurred as a result

  • Original Cost means the total amount paid to purchase a security, including any transaction charges related to the purchase;

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • Fully Loaded Cost means the direct cost of good or service plus all applicable indirect charges and overheads.

  • Normal cost means the annual cost attributable, under the actuarial cost method in use, to current and future years as of a particular valuation date, excluding any payment in respect of an unfunded actuarial liability.

  • Base Cost means base cost as defined in paragraph 1 of the Eighth Schedule;

  • Target Cost as used in this contract, means the estimated cost of this contract as initially negotiated, adjusted in accordance with paragraph (d) of this clause.