A prime cost is the allowance that is usually measured by the cost consultant for the needed supplies at work. It is to be provided by the contractors or the suppliers.
lina
advantages: more control, cost control and competitive advantages
one has ' prime cost' in front of the word 'sum' and the other has the word 'provisional' in front of 'sum'
To put up a solar farm takes on average around $ 1 million , there are many advantages to solar energy including relativly low maintaince cost. The disadvantages would have to be that each pannel is very expense, but the long term advantages both in price and in saving the environment greatly outweigh the disadvantages.
Prime cost is a subset of Factory cost. Prime cost consist of Direct material, Direct labour and Direct expenses. Factory cost = Prime cost + Production OH
Direct labor and direct materials are the components of prime cost so no other cost is part of prime cost and hence variable overheads also not included in prime cost.
Formula for Prime Cost = Material Cost + Labor Cost
yes it is part of the prime cost
Sales minus Prime cost = Prime Margines. Direct material and direct labor are often referred to as prime cost.
They cost extra.
advantages of cost management in relation to finacial efficiency
No
Direct labor and direct materials are the two main components of prime cost. Another component of prime cost is direct expense.
Formula for prime cost = direct material + direct labor
cost of capital advantages
Formula for prime cost is as follows: prime cost = direct material + direct labor So according to above mention formula yes it is prime cost because whitout labor no unit of product can be manufactured.