During the 1970s, Generac expanded its offerings in the portable and recreational vehicle markets, and in the 1980s the company entered the commercial and industrial markets with its backup power generation systems.
Add each cost to determine the labor burden cost of the employee. In this example, assume you pay $2,000 in payroll taxes, $1,000 in insurance, $2,000 in benefits and $5,000 in supplies and other miscellaneous expenses. Add together $2,000, $1,000, $2,000 and $5,000 to get a labor burden cost of $10,000.
When a labor rate is used for defining the cost of labor, it can be further refined into the incremental cost of labor or the fully-loaded cost of labor. Consider the following differences and usages: 1  Incremental labor rate. 2  This rate is the cost of labor that will be incurred if a specific action is taken.