Why You Need to Include Your Labor Hours in Your Cost of Goods Sold
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Should your labor hours be included in your cost of goods sold? Your COGS should always include any labor hours (including your own) that are part of creating or making the products as well as installing or providing the service. Today we will take a look at an example of someone that produces their own products and then resells them. If you want to be priced correctly and have a clean profit and loss, then take a listen.
YouTube Videos on P&L that Can Help:
👉 Profit & Loss Income Statement for Beginners
👉 Profit & Loss Playlist – Multiple P&L Videos
👉 Profit & Loss Review – Did Their Gamble on Payroll & Space Pay Off?
👉 Grab Your Free Know Your Business Numbers Reference Guide
👉 Want to Learn Your Business Numbers Better? Check Out this Affordable Course: Understanding Your Business Numbers
Here are some popular videos I have on YouTube:
👉 HOW TO PRICE YOUR PRODUCTS CORRECTLY
👉 HOW TO PRICE YOUR SERVICES CORRECTLY
👉 HOW TO READ A PROFIT & LOSS STATEMENT
👉 WEBSITE: BABOLearning.com
👉 YOUTUBE CHANNEL: BABO Learning for Badass Business Owners
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FREE GUIDES / TOOLS
👉 Free Know Your Business Numbers Reference Guide
👉 FREE eGUIDE: 8 Steps to Earning $100,000 in Income in Your Small Business
👉 FREE eGUIDE: How to Read a Profit & Loss Statement
👉 FREE Start Up Guide for Starting a Business
👉 Free eBook: 10 Questions to Ask in Your Business
👉 Get Your FREE Business Health Check
👉 Understanding Your Business Numbers
👉 Start a Local Small Business
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👉 ** DISCLAIMER: I am not an attorney, CPA, bookkeeper, insurance agent or financial advisor. My videos/podcast are for entertainment & educational purposes only and should not be construed as tax, legal, insurance or financial advice. Please seek out a qualified CPA, attorney, or specialist as needed. I’m sharing my experiences with my businesses and those I have worked for and/or helped coach.
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