solvecost_labor function

Determine labor cost

This function takes number of FTE and annual $/FTE and determines labor cost

solvecost_labor(fte, cost, time = "day")

Arguments

• fte: Number of FTEs. Can be decimal.
• cost: $/year per FTE
• time: Desired output units, one of c("day", "month", "year"). Defaults to "day".

Returns

A numeric value for labor $/time.

Examples

laborcost <- solvecost_labor(1.5, 50000)

library(dplyr)
cost_data <- tibble(
  fte = seq(1, 10, 1)
) %>%
  mutate(costs = solvecost_labor(fte = fte, cost = .08))