Wage

A wage is an amount of money paid to workers in exchange for their work.

In a production function, labor is considered a cost along with materials, but the actual amount is in no way proportional to the amount of work put in. Rather, it is in most cases the least possible that can be paid in order to remain competitive.

By least possible one should not understand a passive stance based on what is legally enforced or what a "market consensus" or "competition" establish. Rather, it is actively kept within the least possible by actions such as lobbying, intimidation, union busting, offers of deception, state interference and financial insecurity.

Meaning, labor is a cost only from the perspective of someone who is not laboring. If this element were removed, you would have a function where the full profit output of expenses would correspond to wages.