Unformatted text preview: with the tool to run reports quickly, and as a result, be able to increase efficiency and optimization. However, XBRL is time consuming and costly, larger companies will have more man and fiscal power to implement it first before smaller to medium size companies. In construction and manufacturing, the cost driver in the past was direct labor hours. Now the cost driver has shifted to direct material costs. What is the reason behind this change? Most companies are starting to purchase materials that are already built to a degree resulting in cut labor hours. With labor hours decreasing, it has become less and less a cost factor, while the cost of the direct materials has been increasing its influence as the cost factor. Why are companies doing this? Because they have begun to realize that by buying direct materials they have cut costs related to labor and as a result have driven the total cost of projects down....
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- Spring '09
- Order theory, horseracing, regression method