Forecasted Labor Cost computes the prediction of a company's desired future labor cost. This forecast is done for a particular period of a time in the near future, usually the next fiscal year.
Resource:
Dopson, Lea R., and David K. Hayes. Managerial Accounting for the Hospitality Industry. Hoboken, NJ: Wiley, 2009. Print.
"Sales Forecasting Definition - at TrackMaven.com." TrackMaven. N.p., n.d. Web. 08 Aug. 2015.