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Prime Cost

This topic has 3 replies, 3 voices, and was last updated 9 years ago by John Moffat.

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December 25, 2015 at 3:39 am #292717
Ammar
Member
- Topics: 12
- Replies: 14
What is the definition of prime cost?
How to calculate prime cost?
December 25, 2015 at 4:55 am #292718
soooraj
Member
- Topics: 12
- Replies: 70
Prime cost is a variable cost.it includes material cost labour cost and variable over heads….
December 25, 2015 at 9:06 am #292719
John Moffat
Keymaster
- Topics: 57
- Replies: 54642
Sooraj – please do not answer in this forum. It is the Ask the Tutor forum, and you are not the tutor 🙂 (and prime cost does not inlclude variable overheads usually)
December 25, 2015 at 9:08 am #292720
John Moffat
Keymaster
- Topics: 57
- Replies: 54642
Ammar: the prime cost is the total of those costs that can be specifically identified (I e measured) for each unit. Usually it therefore simply the materials and the direct labour.
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