This is the total amount you spent in a payroll cycle on labor and is your labor cost. For example, if a restaurant has payroll expenses of $4,000, plus $306 in FICA taxes, $600 for unemployment coverage and $444 in worker's compensation, its total labor cost is $5,350 for the period.Step 10. Measure your labor costs as a percentage of sales to ensure youâre not overstaffed.ivide the weekly payroll figure by your total weekly sales. If your restaurant brought in $28,157 and you spent $5,350 on labor, your labor cost percentage would be about 19 percent, or $5,350 divided by $28,157.
Consideration may be a promise to perform a certain act -- for example, a promise to fix a leaky roof in return for a payment of $1,000 -- or a promise not to do something, such as build a second story on a house that will block the neighbor's view (in return for money or something else).
Valuable Consideration. In the formation of a valid and binding contract, something of worth or value that is either a detriment incurred by the person making the promise or a benefit received by the other person. In contract law consideration is required as an inducement to enter into a contract that is enforceable in the courts. It is an essential element for the formation of a contract. What constitutes sufficient consideration, however, has been the subject of continuing legal debate. Contracts and courts generally use the term valuable consideration to signify consideration sufficient to sustain an enforceable agreement.