{"id":164,"date":"2020-07-07T14:15:37","date_gmt":"2020-07-07T08:45:37","guid":{"rendered":"https:\/\/www.kewaunee.in\/blog\/?p=164"},"modified":"2025-03-24T18:17:31","modified_gmt":"2025-03-24T12:47:31","slug":"how-to-calculate-the-operating-expenses-for-your-laboratory","status":"publish","type":"post","link":"https:\/\/www.kewaunee.in\/blog\/how-to-calculate-the-operating-expenses-for-your-laboratory\/","title":{"rendered":"How to calculate the operating expenses for your laboratory?"},"content":{"rendered":"

[vc_row full_width=”stretch_row” equal_height=”yes” content_placement=”middle” css=”.vc_custom_1594037823219{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 40px !important;padding-bottom: 40px !important;}”][vc_column]

How To Calculate The Operating Expenses For Your Laboratory<\/span><\/h1>[vc_column_text]Operating a successful laboratory requires careful planning. One vital aspect of the planning process is budgeting. Budgeting is the plan to spend money<\/strong>.<\/p>\n

Established laboratories rely on past data to create their budgets. But what if past data is not available? How can labs create accurate budgets to avoid surprises later?<\/p><\/blockquote>\n

This article will take you through budgeting and calculating operating expenses for your laboratory.<\/strong>[\/vc_column_text][vc_single_image image=”199″][vc_column_text]<\/p>\n

UNDERSTANDING THE COSTS<\/strong><\/h2>\n

[\/vc_column_text][vc_row_inner][vc_column_inner][vc_column_text css=”.vc_custom_1594132248941{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 10px !important;}”]The costing exercise for each laboratory is specific. The elements required for running the lab will differ across industries and the nature of research. Yet the costing method for deriving the operating expenses would fit across the spectrum.<\/p>\n

The operating expense is divided into fixed and variable costs, and further sub-divided into direct and indirect costs. Let\u2019s inspect the cost elements.<\/p><\/blockquote>\n

[\/vc_column_text][vc_column_text css=”.vc_custom_1595585839851{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 20px !important;padding-bottom: 20px !important;}”]<\/p>\n\n\n\n\n\n\n
FIXED COSTS<\/td>\nFixed costs remain constant and do not change over time or as the research volume increases or decreases.<\/td>\n<\/tr>\n
VARIABLE COSTS<\/td>\nBoth time and the volume affect the variable costs.<\/td>\n<\/tr>\n
DIRECT COSTS<\/td>\nDirect costs are directly connected to the laboratory output.<\/td>\n<\/tr>\n
I<\/strong>NDIRECT COSTS<\/td>\nIndirect costs are the overheads not directly connected to the output of the labs<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text css=”.vc_custom_1742820447102{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 20px !important;padding-bottom: 20px !important;}”]<\/p>\n\n\n\n\n\n
\n

EXAMPLES<\/strong><\/p>\n<\/td>\n<\/tr>\n

FIXED \u2013 DIRECT<\/strong><\/td>\nFIXED \u2013 INDIRECT<\/strong><\/td>\nVARIABLE \u2013 DIRECT<\/strong><\/td>\nVARIABLE \u2013 INDIRECT<\/strong><\/td>\n<\/tr>\n
\n
    \n
  • Equipment purchases<\/li>\n
  • License Fees<\/li>\n
  • Researchers salaries<\/li>\n<\/ul>\n<\/td>\n
\n
    \n
  • Rent<\/li>\n
  • Utilities<\/li>\n
  • General administration<\/li>\n
  • Support staff<\/li>\n<\/ul>\n<\/td>\n
\n
    \n
  • Reagents<\/li>\n
  • Test supplies<\/li>\n
  • Consumables<\/li>\n<\/ul>\n<\/td>\n
\n