Labor costs that can be easily and conveniently traced to specific products are direct labor costs.
In an economy, labor refers to the amount of mechanical and emotional effort put in to generate commodities and services. It provides the knowledge, skills, manpower, and support required to transform raw resources into completed goods and services.
The cost of direct labor includes both regular and extra hours of working by an individual. It also covers payroll taxes and expenses like security in society, unemployment insurance, and worker's compensation insurance.
Finance and accounting experts estimate labor costs to assess a company's direct and indirect labor costs. Pay and benefits for employees directly involved in the production of the product or service commodity are included in the direct cost of labor.
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