Costs to produce milk differs significantly â the range is from 4 to 128 US-$ per 100 kg milk. From 2000 â 2012, cost of milk production increased in all countries analysed. Cost of milk production in China is estimated 50% above the level in US and Germany.
Definition of Wages: Wages are remuneration paid to labor in return for the services rendered. Benham has defined the term wages in a restricted sense. According to him, a wage may be defined as a sum of money paid under contract by an employer to a worker in exchange for service rendered.
What Are Wages? Wages are all compensation for an employeeâs personal services, whether paid by check or cash, or the reasonable cash value of noncash payments such as meals and lodging. Payments are considered wages even if the employee is a casual worker, a day or contract laborer, part-time or temporary worker, or paid by the day, hour, or any other method or measurement. Wages include, but are not limited to: Salaries, hourly pay, piece rate, or payments by the job. Commissions and bonuses.