WebFeb 26, 2024 · The term "prime cost" refers to (a) all manufacturing costs incurred to produce units of output. (b) all manufacturing costs other than direct labor and raw material costs (c) raw material purchased and direct labor costs (d) the raw material used and direct labor costs See answer Advertisement Prime costs are a firm's expenses directly related to the materials and labor used in production. It refers to a manufactured product's costs, which are calculated to ensure the best profit margin for a company. The prime cost calculates the direct costs of raw materials and labor that are involved in the … See more
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WebThe meaning of PRIME COST is the combined total of raw material and direct labor costs incurred in production; broadly : cost less vendor's or agent's commission for charges. WebJan 31, 2015 · Top Answer: The Carrying cost id the right answer. See More. Answers (4) : Product cost equal 1- Prime cost + conversion cost 2- Direct material + direct labor + factory overhead applied 3 - Non of above . Top Answer: 2- Direct material + direct labor + factory overhead applied To note that including the conversion cost i ... characteristics of plants in cold climates
Solved The term prime costs refers to: Select one: a. total - Chegg
Web9. The term “committed costs” refers to those A. costs which management decides to incur in the current period to enable the company to achieve objectives other than the filling of orders placed by customer. B. costs which are likely to respond to the amount of attention devoted to them by a specified manager. C. costs which are governed mainly by past … WebMar 26, 2024 · See answer. 3. Prime cost is: The sum of direct materials and direct labor cost excluding all other costs. The total of all cost items that can be directly charged to … WebThe total overhead cost of P49 per unit is a a. prime cost b. variable cost c. mixed cost d. fixed cost. The total research and development costs of P200,000 incurred to develop the new product is a(n) a. relevant cost b. sunk cost c. avoidable cost d. postponable cost harper moore search