Prime Costs in Cost Accounting - Definition, Formula, Calculation, Explained with Examples.

preview_player
Показать описание
A prime cost is the total direct costs of production, including raw materials and labor. Indirect costs, such as utilities, manager salaries, and delivery costs, are not included in prime costs. The prime cost equation is equal to the cost of raw materials plus direct labor. This short lecture covers a brief discussion on Definition, Formula, Calculation, and Examples of Prime Costs in Cost and Management Accounting

Subscribe to @AcademicGainTutorials for more Updated Videos!
Рекомендации по теме