Labor costs are to value added as pay roll costs are to:

Name: Labor costs are to value added as pay roll costs are to:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Payroll costs refer to the amount of money paid to employees for their work, while value added relates to the increase in value that is generated by the production process. SVOP, or standard value of output per hour worked, measures the amount of value added by each employee/work hour and is therefore directly related to the value added metric.

Labor Costs Are to Value Added as Pay Roll Costs