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Planning/Recording - No time I have crews waiting, and time is money!
Reports/Evaluation - So many numbers, what to look for?
Adjusting - I won’t know till the end of the year. Here’s to hoping!
Terms: Revenues: Total money earned Direct Costs: Expenses billed job specific Gross Profits: Revenues minus direct costs Overhead: Indirect costs not billed job specific Net Profits: Balance remaining after Gross Profits minus overhead.
This burden is often overlooked or misunderstood by owners. We use a PEO to help us manage ours.
Overhead Overheads worksheets need to have all of the categories that your accounting show for overhead. Equipment can also be an overhead. (We will discuss this later.) Overhead is any cost that you can not direct cost to a job. The owner’s/manager’s pay is also an overhead. Dividends are separate.
Labor Cost These labor cost are a direct cost and should be figured into the direct cost of the job. This spreadsheet shows the effect of overtime and burden on the labor costs. Maintenance labor usually ranges in the 35%-42% of revenue. Installs labor usually range in the 25%-35% of revenue.