Prime costs may be defined as

Related MCQs

• …………cost is defined as the aggregate of variable costs or prime costs plus variable overheads.
• Under marginal costing, ……… Costs are regarded as costs of the products.
• Under marginal costing, …………… costs are treated as period costs and charged to profit and loss account for the period for which they are incurred
• The Prime function of accounting is to ………………………..
• Marginal cost is the aggregate of prime cost and ……………….
• ………………..is the technique and process of ascertaining costs
• ………….cost represents the amount of any given volume of output by which aggregate costs are changed if the volume of output is increased by one unit.
• Under marginal costing, stocks of finished goods and work-in-process are valued at …………….. costs only
• …………..costs are the increase or decrease in total cost that result from producing additional or fewer units or from the adoption of an alternative course of action.
• Marginal cost and differential cost are the same when ……..costs do not change with change in output