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The term prime cost refers to

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

The prime cost and provisional sum traps BUILD

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 https://bneuh.net

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

Prime cost Definition & Meaning - Merriam-Webster

Category:What Is Prime Cost? Definition, Formula, Calculation, and Purpose

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The term prime cost refers to

Cost Concept, Analysis, and Classification MCQs - Finance …

WebThe term " prime costs " refers to : A. ... The term "variable costs" refers to: A. all costs whose total amounts change in proportion to changes in activity within a relevant range B. all costs that are likely to respond to the amount of attention devoted to them by a specified manager C. all costs that are associated with ... http://www.accountingmcqs.com/Cost-Management

The term prime cost refers to

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WebThe 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 … WebYou'll get a detailed solution from a subject matter expert that helps you learn core concepts. See Answer. Question: The term prime costs refers to: Select one: a. total costs. b. total …

Web10. The term "prime costs" refers to: A. the sum of direct labor costs and all factory overhead costs. B. the sum of direct materials costs and direct labor costs. C. manufacturing costs incurred to produce units of output. D. all costs associated with manufacturing other than direct labor and direct materials. costs.

WebA. A product cost. B. A period cost. C. Both a product cost and a prime cost. D. A prime cost., Cost drivers are A. Accounting techniques used to control costs. B. A mechanical … http://www.accountingmcqs.com/the-term-?prime-costs?-refers-to-mcq-369

WebDefinition: A prime cost refers to an entity’s expense directly related to the materials and labor used in production. Prime costs are those costs that are directly incurred to create a product or a service and are particularly useful in determining the contribution margin of a product or a service and calculating the minimum price at which a product should be sold.

WebThe term "prime cost" refers to all manufacturing costs incurred to produce units of output. all manufacturing costs other than direct labor and raw material costs. raw material purchased and direct labor costs ... Prime Costs = Raw Materials + Direct Labor-- $19,500 + 14,400 = $33,900 Conversion Costs = Direct Labor + Factory Overhead--$ ... harper mockingbird authorWebStudy with Quizlet and memorize flashcards containing terms like The term "relevant range" as used in cost accounting means the range over which A. relevant costs are incurred. B. … harper morris payrollWebJan 10, 2015 · The answer is letter D. Prime costs is the sum of raw materials and direct labor cost. Upvote (2) Downvote Reply ( 0) Report. by VENKITARAMAN KRISHNA … harper motors 4800 us-101 eureka ca 95503WebChoice-letter “b”, overhead, has both the variable and fixed cost components. Choice-letter “d”, selling expense, also has both the variable and fixed cost components. The term that refers to costs incurred in the past that are not relevant to a future decision is A. Full absorption cost. C. Sunk Cost. B. characteristics of plants upscWebYou'll get a detailed solution from a subject matter expert that helps you learn core concepts. See Answer. Question: The term prime costs refers to: Select one: a. total costs. b. total food and beverage cost and total labor cost. c. total variable costs and total fixed costs. d. total food and beverage costs. The term prime costs refers to: characteristics of plants ks2Web36. The term "prime cost" refers to: a. The sum of direct labor costs and all factory overhead costs. b. The sum of direct material costs and direct labor costs.c. All costs associated … characteristics of plants in the rainforestWebIn such a case, the Prime Cost for production of the car will increase to Rs 11550 Crores in 2016-17. Prime Cost Formula = Raw Material + Pollution Control Equipment + Direct … characteristics of planets in astrology