Calculating product costs
Now it's time to dig into the cost of manufacturing these products!
You'll calculate the Total Cost ($), which comprise of the Cost ($) of raw materials per manufactured product, and the employee's wages. Recall that employees are payed more on weekends, a sum which is calculated by multiplying the Hourly Rate ($) by the Weekend Multiplier (%).
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- Calculate the
Wage Cost ($)each day using theHours,Hourly Rate ($),Weekend, andWeekend Multipliercolumns. - Calculate the
Product Cost ($)each day by multiplying the number of products finished each day by theCost ($)of each product. - Calculate the
Total Cost ($)each day by summing theWage Cost ($)and theProduct Cost ($).
