I would recommend reading Tom Wilsted's booklet,Computing the Total  Cost of Archival Processing, Technical leaflet No.2,(Mid-Atlantic Regional  Archives Conference: N.p., 1989)

There is also a brief discussion of some of the relevant literature in Paul Ericksen and my article, Shocks:  The Place of Processing Cost Analysis in Archival Administration"  in the  American Archivist. Vol. 58, No.1,  Winter 1995

Some of our experience at the BGC Archives on calculating processing  costs (including labor, materials, storage) can be found online at: 
http://www.wheaton.edu/bgc/archives/ar/2004/17.html

Our average for eleven years, including all types of collections, was 7.4  hours per cubic foot, $181 per cubic foot.  You might also want segregate  the different types of processing you are doing, since costs can differ widely depending on whether you are processing a huge collection of  hundreds or thousands of boxes, updating an existing collection, adding a  few individual items to a collection, working on a collecting that includes  oral history interviews as well as other types of material, etc.

Bob Shuster
BGC Archives


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