Which expense category is the most important to forecast accurately?
Which expense category is the most important to forecast accurately?
Homework Answers
Prime costs are the most important category to forecast accurately, Actually, prime costs constitute about 63% of Sales.
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. Businesses need to calculate the prime cost of each product manufactured to ensure they are generating a profit.
Prime cost = direct materials cost + direct labor cost.
So, Prime costs are the most important to forecast accurately.
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Which expense category is the most important to forecast accurately?
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