Prime Cost has two meanings in construction.
1) Prime cost is the sum of all of the specialist works and specialist materials from nominated sub-contractors (NSC) and suppliers on site. The main Contractor can place a % profit and attendance on NSC, this must be adjusted in the final account. This is a Prime Cost as referred to in the Bill of Quantities
2) Prime cost in regards to a contract is the sum of all the major works which the Main Contractor must produce under the contract.
Maybe knowing this will help you see the difference? I have never heard the phrase "work cost" to compare with prime cost.
what is the difference between a work order and a purchase order?
There is no specific difference between Work Order and Purchase Order. However, in general the term Purchase Order is used wherein there is only Supply part involved or Installation is free of cost and Work Order is wherever there is Supply + Installation or Installation Works. But either can be used anywhere.
For retail companies, computing cost of goods sold is a fairly straight forward process. Beginning inventory + purchases - ending inventory = COGS. For manufacturing firms, however, that simple formula won't work. They have to compute how much something cost to build, which can be extremely complicated. Hence, cost accounting evolved for manufacturing companies.
LOI is for giving work to Employer Purchase order is for Components in work (Like Materials) Simply LOI- WORK PO - Material
COST OF PRODUCTION IN ACCOUNTING: is defined as the amount spent in the converting of raw material into finished goods. in the manufacturing account is calculated by Add:opening stock of ram material :purchase +carriage inward -return outward=cost of goods available-closing stock=cost of sales +prime cost+factory overhead+net work in progress=cost of production
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.
what is difference between work-group and domain
what is the difference between a work order and a purchase order?
The capsules will dissolve quicker and thus go to work faster. Capsules probably cost more.
Sociology is the study of society, social institutions, and social relationships, focusing on understanding social behavior and interactions at a broader level. Social work, on the other hand, is a profession that aims to help individuals, families, and communities address their problems and improve their well-being through direct interventions and support services. Sociology provides the theoretical foundation and broader societal perspective for understanding social issues, while social work applies this knowledge to facilitate positive change at the individual and community level.
What is difference between payment for honorarium
The difference is that leisure is relaxing and work is work ? yeah bro
In the past, work was often characterized by a more linear career path, rigid work hours, and long-term job security. Today, work is marked by more flexibility, remote opportunities, and a greater emphasis on skills over tenure. Additionally, technology has transformed the way we work, enabling collaboration across distances and blurring the lines between work and personal life.
machines are used to work
There is no specific difference between Work Order and Purchase Order. However, in general the term Purchase Order is used wherein there is only Supply part involved or Installation is free of cost and Work Order is wherever there is Supply + Installation or Installation Works. But either can be used anywhere.
The main difference between artwork and work of art is that a work of art is generally held in higher regard than an artwork.
what is the difference beetween social work and community development