WebDirect materials and direct labor are considered to be: A. selling expenses B. prime costs C. administrative expenses D. conversion costs E. factory overhead. Depreciation on factory buildings and equipment is classified as: A. selling expense B. administrative expense C. direct labor D. indirect materials E. factory overhead WebIn 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 Labour. = 7500 + 850 + 3200. = 11,550 Crores. Please note – 1 Crore (cr) = 10 million.
acounting: exam 2 Flashcards Quizlet
WebStudy with Quizlet and memorize flashcards containing terms like Selling costs can be either direct or indirect costs., ... Thread that is used in the production of mattresses is an indirect material that is therefore classified as manufacturing overhead. True. Direct labor is a part of prime cost, but not conversion cost. True. Web9 jun. 2024 · The wage of a timekeeper in the factory would be classified as a. prime cost b. direct labor c. indirect labor d. administrative expense; ... (30,000) 90, Direct Labor 60, Prime Cost 150, Direct Materials Purchases 430, Less: Increase in raw materials 15,000 415, Direct Labor 200, Factory Overhead 300, Manufacturing Cost 915, Add ... baking mugs with paint pen
Ch02tif - CHAPTER 2: AN INTRODUCTION TO COST TERMS AND …
Prime costs are a firm's expenses directly related to the materials and labor used in production. It refers to a manufactured … Meer weergeven WebPrime cost: This comprises direct material, direct wages, and direct expenses. It is also called basic cost, first cost, or flat cost. It can be defined as an aggregate of the price of the material consumed, the wages involved in production, and the direct expenses. Prime cost = Direct material + Direct wages + Direct expenses baking omaha steak apple tartlet