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Prime cost is the cost of materials and labor involved in production of a commodity, excluding fixed costs. Overhead cost is the cost of on-going expenses, such as rent, utilities, and insurance. Overhead costs are one of the major factors in determining how a company charges for its service or product.
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Difference between conversion cost and prime cost?
Prime cost is that cost component without which no production is possible while conversion cost is that cost which required to convert raw materials into finished goods like direct labor and overhead costs.
What is the difference between overhead cost and fixed cost?
Fixed cost is a cost that does not typically vary on unit production. On the other hand overhead cost is the summation of all variable cost.
What is the difference between variable overheads cost variance andfixed overheads cost variance?
Variable overhead cost variance is that variance which is in variable overheads costs between the standard cost and the actual variable cost WHILE fixed overheads cost variance is variance between standard fixed overhead cost and actual fixed overhead cost.
The difference between variable factory overhead incurred and total standard variable factory overhead based on the actual quantity of the cost driver for applying the overhead is the?
cheatFAIL
What is difference between sales and prime cost?
gross profit
Difference between conversion cost and prime cost?
Prime cost is that cost component without which no production is possible while conversion cost is that cost which required to convert raw materials into finished goods like direct labor and overhead costs.
Fixed-overhead budget variance?
Fixed overhead budgeted variance is the difference between estimated budgeted cost and actual fixed overhead cost of production.
What is the difference between overhead cost and fixed cost?
Fixed cost is a cost that does not typically vary on unit production. On the other hand overhead cost is the summation of all variable cost.
What is the difference between prime cost and variable cost?
lina
What is the difference between variable overheads cost variance andfixed overheads cost variance?
Variable overhead cost variance is that variance which is in variable overheads costs between the standard cost and the actual variable cost WHILE fixed overheads cost variance is variance between standard fixed overhead cost and actual fixed overhead cost.
Explain the difference between the overhead apportionment and overhead absorption?
If the cost can be tracked towards a cost object, then it is called overhead absorption. If the cost can not be tracked with respect to a specific cost center or cost object, then the entire cost is distributed to all the cost centers, based on the usage ratio. This is called Overhead apportionment. UdhayAnand AVB
The difference between variable factory overhead incurred and total standard variable factory overhead based on the actual quantity of the cost driver for applying the overhead is the?
cheatFAIL
What is difference between sales and prime cost?
gross profit
What is the difference between overhead and GA?
The difference between Overhead & G&A is as follows: Overhead is always a fixed cost...such as rent. G&A (Stands for General and Administrative) so therefore all general and administrative costs go here....such a supervisor salary. G&A can have cost controls implemented into them...the fixed costs are set (usually in stone). http://www.xsellence.com
What are total costs in accounting?
Total cost/ full cost which include Prime Cost *Direct Labour cost *Direct Material Cost *Direct expenses Production Overhead *Variable Overhead *Fixed Overhead Selling and Distribution cost Administration Cost
Differentiate prime cost and production overhead?
Prime cost includes direct material and direct labor without which no goods can be manufactured while production overhead is that other cost which is not directly identifiable with product but which is required to run factory operations.
How prime cost is different from conversion cost and Manufacturing Costs?
Prime cost basically is the cost of direct labor and cost of direct material; whereas conversion costs is Overhead cost and direct labor cost.
