Prime cost can be defined as:

Related MCQs

• Which of the following cost classification categories is almost identical to a relevant cost?
• Upstream cost, Down stream cost etc., are the concepts in---------------.
• ----------is the cost attribution to the cost unit on the basis of benefits received from indirect activities.
• ---------- cost is also known as hypothetical or notional cost.
• The efficiency ratio can be defined as:
• The firm’s direct-labour rate variance was 4,800 unfavourable. Actual labour was 24,000 direct-labour hours, at a cost of 1,68,000, for 25,000 units of finished product that require 1 hour of direct labour each, at standard. What is the standard rate per direct-labour hour?
• An equivalent unit of material or conversion cost is equal to:
• The main object of cost accounting is:
• Cost accounting emerged mainly on account of:
• Advantages of cost accounting system accrue: