The Importance of Tracking Labor Hours

Michael Barbarita, founder of Next Step CFO, has posted a new blog post on labor hours.
By: Next Step CFO is a contracted CFO firm in Boston
 
DEDHAM, Mass. - June 24, 2016 - PRLog -- Chief Financial Officer Michael Barbarita has written a new blog post about the critical need for owners of manufacturing businesses to track labor hours.  Michael writes that during his time as a part-time CFO performing CFO services, he learned that the most important metrics involve direct labor hours.  Those metrics include:

·Sales per hour-Tracking this metric allows the business owner to find out if his/her pricing has integrity and how efficient his/her laborers are

·Overhead per hour-Tracking this metric allows the business owner to find out what their overhead cost is as well as applying it to the selling price to make sure that the overhead cost is covered

·Material cost per hour-Tracking this metric allows the business owner to find out if he/she is insufficiently consuming materials or is not buying effectively

Using these metrics will aid the business owner in evaluating the overall productively and performance of his/her business.

The entire blog post can be found at http://cfo-chief-financial-officer.blogspot.com/2012/04/cfo-services-importance-of-tracking.html.

Contact
Next Step CFO Inc.
***@nextstepcfo.net
781-326-3822
End
Email:***@nextstepcfo.net Email Verified
Tags:Cfo Duties, Cfo Services, Cfo
Industry:Accounting
Location:Dedham - Massachusetts - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Next Step CFO News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share