CoatingsPro Magazine

NOV 2016

CoatingsPro offers an in-depth look at coatings based on case studies, successful business operation, new products, industry news, and the safe and profitable use of coatings and equipment.

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COATINGSPRO NOVEMBER 2016 17 job cost structure and in a report, such as in Table 1. • Labor productivity reports will show the number of units completed per labor hour for each activity or phase under the job cost structure — estimated, to date, or for a speci- fied current period. From here, it's easy to see how variance, percent variance, and productivity for quantities remaining can be calcu- lated (see Table 2). • A projected cost analysis may take several forms. Building off the labor unit cost report, it can take the current unit costs and the percent complete to project the labor costs at completion, helping anticipate overruns specific to each designated cost area. Under this principle, you can also, for example, look at hours under or over estimates using a percent complete based instead on quantities, billings, and so forth. The possibilities become very open-ended. See Table 3 for an example. • The practice of allocating overhead allows you to see a truer account of a project's cost by distributing a propor- tional amount of expenses that don't belong to any one job. Of course, a number of methods exist, and you should consult with your construction certified public accountant (CPA) beforehand, but one related method is per-labor-hour allocation, which treats overhead as a kind of "extra burden" (e.g., $1.25 for liability insur- ance per each hour worked). Continual Process Improvement Job costing isn't ever completely mastered. By maximizing your job costing efforts when it comes to payroll, you should be able to better see your true labor costs to jobs and more precisely identify productivity successes and lags so that you can make corrective decisions and better budgets in the future. Finally, you should be able to leverage successful payroll job costing to assign certain overhead costs that further the accuracy of your reporting and managing of a job. CP Fred J. O d e i s C E O/c h a i r m a n of b ot h Fo u nd a t i o n S of t w a re a nd Pay ro l l 4 C o n s t r u c t i o n . c o m , a p ay ro l l p ro c e s s i n g a nd re p or t i n g c o m p a ny j u s t for c o nt r a c t or s . O d e i s a s p e a k e r a t v a r i o u s c o n s t r u c t i o n c o n fe re n c e s , t r a d e s ho w s , s e m i n a r s , a nd ot h e r i nd u s t r y e v e nt s . For m ore i n for m a t i o n , c o nt a c t : F re d J . O d e , fo d e @ fo u nd a t i o n s of t . c o m , w w w. p ay ro l l 4 c o n s t r u c t i o n . c o m Money Matters when the going gets tough... we get tougher. Foot traffic, vehicle traffic, heat, cold, the relentless effects of weather... With these kinds of forces stacked against you, it's essential to have a coating that can rise to the challenge - one that you can have confidence in to remain strong and effective no matter how hard you use or abuse it. Wearcoat ® floor coatings define durability. Easy to apply, easy to clean, non-slip and incredibly tough, Wearcoat ® will give you the edge you need to get the job done - safely and efficiently. Call us today or check us out on the web. Our expert staff is ready to help with any coating needs you have... COATINGS FOR INDUSTRY, INC. Call us today – 215-723-0919 Fax 215-723-0911 COAT SG SERIES ANTI-SLIP COATINGS Serving the concrete flooring, structural steel, transportation and aerospace industries for over 35 years. Wr i te in Re ad e r In q u ir y #1

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