The formula to calculate the Labor Utilization (LU) is:
\[ LU = \left( \frac{BH}{AH} \right) \times 100 \]
Where:
Let's say the billable hours (BH) are 150, and the available hours (AH) are 200. Using the formula:
\[ LU = \left( \frac{150}{200} \right) \times 100 = 75 \% \]
So, the labor utilization is 75%.