Posted on 02/21/2021 8:24:42 PM PST by SeekAndFind
Typically, labor cost percentages average 20 to 35 percent of gross sales.
Appropriate percentages vary by industry, A service business might have an employee percentage of 50 percent or more, but a manufacturer will usually need to keep the figure under 30 percent.
There is never a direct relationship between labor costs and cost of goods sold
In the food SERVICE industry. But bread making is more in line with manufacturing.
The cost of manufacturing labor rarely exceeds 10%. If ever. Take cars, the rule of thumb is 30 man hours to build a car. 30 man hours for union auto labor ( worse case) is 8% per car.
Typically, labor cost percentages average 20 to 35 percent of gross sales.
In the food SERVICE industry. But bread making is more in line with manufacturing.
The cost of manufacturing labor rarely exceeds 10%. If ever. Take cars, the rule of thumb is 30 man hours to build a car. 30 man hours for union auto labor ( worse case) is 8% per car.
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That’s my point. Doubling the minimum wage from $7.25 in some states to $15 definitely won’t double the cost of goods sold
The net would be a one time 10% inflation, if that....
I will rephrase her statements:
You WILL pay a totally useless, Unskilled, Unable to read, write or do decent daily personal hygiene a wage of $15 an hour...’’
WE WILL DEMAND SUCH BY LAW
and if you go broke-—it is YOUR fault...
How large is the business that does this person’s hair???
AND-—Most likely where she gets her hair done, each chair is a separate business person.
Dem Rep. Ro Khanna: Amazon pay me good for this statement.
Right - where I go each hair dresser is an independent contractor; they pay for their chair/spot.
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