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COST CLASSIFICATION

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › COST CLASSIFICATION

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by John Moffat.
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  • February 12, 2019 at 6:39 pm #504941
    hasnainjangda
    Participant
    • Topics: 1
    • Replies: 0
    • ☆

    In the lecture it is explained that prime cost is the sum of direct materials and direct labor but in the study text provided by Kaplan Publishing it is stated that prime cost is the sum of direct materials, direct labor and DIRECT EXPENSES as well. Kindly help me out why is there a difference in the statements and please let me know the correct one.Thanks.

    February 13, 2019 at 8:59 am #504985
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54655
    • ☆☆☆☆☆

    The prime cost does include direct expenses (and I do mention this). However in the exam expenses are virtually always indirect.

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