1. Direct materials 11.Direct labour 111.Direct expenses 1V. Factory expensesPrime cost consist of
Question 1 Report
1. Direct materials
11.Direct labour
111.Direct expenses
1V. Factory expensesPrime cost consist of
Answer Details
Prime cost refers to the direct costs involved in producing a product or delivering a service. It includes the costs of the raw materials, direct labor, and direct expenses necessary to create the product.
In this case, the prime cost would consist of:
- Direct materials (1)
- Direct labor (11)
- Direct expenses (111)
Therefore, the prime cost would consist of items 1, 11, and 111. Factory expenses (1V) are indirect expenses, not included in the prime cost.
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