Cost of Production
- Prime cost is also called direct cost
- It is the sum of direct material cost, direct labour cost and direct expenses
- It is also called factory expenses.
- It is the sum of Indirect material cost, indirect labour cost and indirect expenses.
- It is the sum of prime cost and factory overhead
- It is the sum of factory cost, marketing cost, advertising cost and transportation cost.
- It is the sum of total cost and profit
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