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Is indirect labor a part of prime cost?
Direct material and direct labor are the parts of prime cost while indirect labor is part of manufacturing overhead and manufacturing overhead is a part of conversion cost that's why indirect labor is not part of prime cost because it is that type of labor which is not directly identifiable with units production that;s why cannot charge directly to production units.
Is indirect labor is a part of what cost?
Indirect labor is part of overhead costs and included in total product cost.
Direct labor cost is a part of?
Direct labor cost is part of prime cost as well as it is part of conversion cost as well.
Are indirect labor and materials part of Factory Overhead?
Would overhead include indirect materials and indirect labor?
Is variable overheads include in prime cost?
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.
Is indirect labor a part of prime cost?
Direct material and direct labor are the parts of prime cost while indirect labor is part of manufacturing overhead and manufacturing overhead is a part of conversion cost that's why indirect labor is not part of prime cost because it is that type of labor which is not directly identifiable with units production that;s why cannot charge directly to production units.
Is indirect labor is a part of what cost?
Indirect labor is part of overhead costs and included in total product cost.
Direct labor cost is a part of?
Direct labor cost is part of prime cost as well as it is part of conversion cost as well.
Are indirect labor and materials part of Factory Overhead?
Would overhead include indirect materials and indirect labor?
Is variable overheads include in prime cost?
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.
What is the prime cost in service industry?
In services industries there is no raw material so only direct labor is part of prime cost in services industry.
Is Direct Labor included in Overhead costs?
Direct labor are not part of overhead costs and shown separately while indirect labor are part of overhead costs and included in overhead cost because those labor cannot be allocated separately or identifiable separately.
Is indirect cost a conversion cost?
Indirect cost are those costs which are not directly allocated to product units as well as not directly identifiable that's why these are part of overhead cost and overhead cost is part of conversion cost.
Is the direct expense part of prime cost?
yes it is part of the prime cost
Is direct labor cost part of a conversion or prime cost?
Both are correct. Coversion cost = Direct Labour + Manufacturing Overhead Prime cost = Direct Labour + Direct Material SOURCE: http://highered.mcgraw-hill.com/sites/0070980829/student_view0/glossary.html
Is direct labor used as part of the factory overhead?
Direct labor is not part of factory overhead while indirect labor is part of overhead as these labor expenses could not be calculated directly like factory supervisor salary or line manager salary etc.
What is the one cost that would be classified as part of both prime cost and conversion cost?
The one cost that would be classified as part of both prime cost and conversion cost would be:
