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13.3 Estimate actual hourly cost rates

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13.3.1 Calculate initial hourly cost rates for every item of Equipment and work type:

 

Equipment hourly rate = equipment cost (annual depreciation amount + finance cost + service costs) divided by annual billable hours.

 

If you have specific costs associated with certain work types, you can apply them too.

 

After you have used Latitude for 1 year, you will have real billable hours and will therefore not have to estimate billable hours when you recalculate these figures.