Definition of Production Costs

This topic has 3 replies, 2 voices, and was last updated 4 years ago by John Moffat.

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June 25, 2021 at 11:20 pm #626331

ijeoman
Member

Would it be correct to define Production Costs as Prime Costs + Production Overheads or does it have to be specifically Direct Materials + Direct Labour + Production Overhead?

June 26, 2021 at 8:52 am #626357

John Moffat
Keymaster

Prime costs plus production overheads is correct 🙂

June 28, 2021 at 1:39 am #626493

ijeoman
Member

thank you

June 28, 2021 at 6:17 am #626503

John Moffat
Keymaster

You are welcome 🙂
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