This information refers to Price Codes for Labour within Timesheets. For more information regarding Price Codes refer to "Price Codes" within the Workbench Setup Guide.
If there is conflict within Labour with the Price Code, where the Priority is the same, then "Person" has first Priority, "Employee Class" 2nd and "Activity" 3rd.
There is also a global over-ride selling rate for each Price Code where it is not linked to either Person, Employee Class or Activity.
Where you specify a rate, only then will this be the retail price of all labour for this Price Code unless otherwise specified.