What is the term used to describe the full value of the labor hour after profit has been added?

The term used to describe the full value of the labor hour after profit has been added is referred to as the billing rate. This rate encompasses not only the direct costs associated with labor, such as wages and benefits, but also includes overhead expenses and the desired profit margin. When a company calculates the billing rate, it ensures that the price charged to clients adequately covers all these costs and contributes to overall profitability.

Understanding the billing rate is crucial for financial planning and project estimation in any construction or service-related business, as it directly impacts pricing strategies and ultimately, the company's bottom line. The other terms provided do not fully capture this comprehensive calculation, as "labor costs" typically refers only to the wages and direct expenses without the profit component, "hourly rate" may refer to the wage alone without profit, and "profit margin" specifically pertains to the ratio of profit to sales rather than the total value of labor including profit.