Which of these is the correct formula to calculate labor cost?

labor cost = hourly wage × total work hours

Explanation:

The labor cost refers to the the wage that's paid to an employee and thus can include the employee benefits as well.

With regards to the question, the labor cost will be the hourly wage multiplied by the total work hours. For example of the hourly wage is $15 and the total work hours is 20. Then the labor cost will be 20 × $15 = $300.

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