what are prime cost
Homework Answers
Prime cost is the direct cost of a product which includes direct material, direct labor involved in the production. It is a way to measure cost of production input to produce a given output and improves the production process. It does not include indirect cost such as factory overheads. Other costs which can be included as part of prime cost are piece rate pay and service labor. Factors affecting prime cost include shortage of raw material or labor, a rise or fall in inflation, change in technology etc.
What would be the effect of pricing all items using prime cost versus the factor Method
What would be the effect of pricing all items using prime cost versus the factor Method
The cost of direct materials is classified as a: Conversion cost Prime cost A) No No...
The cost of direct materials is classified as a: Conversion cost Prime cost A) No No B) Yes No C) No Yes D) Yes Yes Choice D Choice A Choice C Choice B
Calculator Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,250...
Calculator Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,250 cameras with the following costs: Direct materials $1,000,000 104,000 Direct labor Manufacturing overhead 672,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. 1. What was the total prime cost in January? $ 1,104,000 2. What was the prime cost per unit in January? $ 269.76 per unit 3. What was the total conversion...
48. The prime cost for November was: A. $136.000 B. $60,000 Prime cast = ($105,000 D....
48. The prime cost for November was: A. $136.000 B. $60,000 Prime cast = ($105,000 D. $112,000 DL+ om Management of Megibbonev Corporation has asked your help as an intern in preparing some key reports for November. The beginning balance in the raw materials inventory account was $25,000. During the month, the company made raw materials purchases amounting to $54,000. At the end of the month, the balance in the raw materials inventory account was $37.000. Direct labor cost was...
the cost of direct materials are classified as: Coversion Manufacturing Prime Cost Cost Cost A) Yes....
the cost of direct materials are classified as: Coversion Manufacturing Prime Cost Cost Cost A) Yes. Yes. Yes B) No. No. No C). Yes. Yes. No D) No. Yes. Yes
Prime Cost and Conversion Cost Benton Engineering Services Company incurred the following during 2016 Direct labor...
Prime Cost and Conversion Cost Benton Engineering Services Company incurred the following during 2016 Direct labor $23,500 Overhead 31,500 Selling expenses 28,000 Administrative expenses 25,500 Calculate prime cost and conversion cost for Benton Engineering Services Company during 2016. Prime cost: Answer Conversion cost: Answer
Prime cost is direct materials cost and direct labor cost. indirect materials cost and direct labor...
Prime cost is direct materials cost and direct labor cost. indirect materials cost and direct labor cost. direct labor cost and indirect labor cost. direct materials cost and indirect labor cost.
Which of the following would be classified as a prime cost? O A. cost of direct...
Which of the following would be classified as a prime cost? O A. cost of direct materials used B. salary of sales personnel O C. depreciation on factory equipment OD. depreciation on office furniture
6. A prime p is called a Mersenne/Fermat prime if it has what form?
6. A prime p is called a Mersenne/Fermat prime if it has what form?
2.Which of the following costs is both a prime cost and a conversion cost? direct materials...
2.Which of the following costs is both a prime cost and a conversion cost? direct materials direct labor manufacturing overhead administrative costs
Calculator Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,250 cameras with the following costs: Direct materials $1,000,000 104,000 Direct labor Manufacturing overhead 672,000 There were no beginning or ending inventories of WIP. Required: If required, round your answers to the nearest cent. 1. What was the total prime cost in January? $ 1,104,000 2. What was the prime cost per unit in January? $ 269.76 per unit 3. What was the total conversion...
48. The prime cost for November was: A. $136.000 B. $60,000 Prime cast = ($105,000 D. $112,000 DL+ om Management of Megibbonev Corporation has asked your help as an intern in preparing some key reports for November. The beginning balance in the raw materials inventory account was $25,000. During the month, the company made raw materials purchases amounting to $54,000. At the end of the month, the balance in the raw materials inventory account was $37.000. Direct labor cost was...
Which of the following would be classified as a prime cost? O A. cost of direct materials used B. salary of sales personnel O C. depreciation on factory equipment OD. depreciation on office furniture
6. A prime p is called a Mersenne/Fermat prime if it has what form?
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