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Edward Lowton
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ARTICLE
Guide to hourly rates
24 March 2014
Addressing issues associated with the calculation of hourly rates, PSL Datatrack has published a new easy Guide to Hourly Rates. It will be particularly useful for those companies involved in batch production or prototyping
The many elements that make up an estimate or quotation to a potential customer must be accurately compiled. This includes a calculation of costs relating to machine utilisation, manpower, factory overheads, administration and materials – all central to the information provided by a typical PSL Datatrack software system.
The Guide to Hourly Rates aims to provide a method to determine whether a company's current estimating procedures are suited to its production requirements.
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