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What is the common ratio of labor cost to materials during a bid?
In my opinion the ratio of labor is 40% and Material is 60%
Is the cost of direct materials classified as a conversion cost?
No, Conversion cost is the sum of direct labor cost and manufacturing overhead cost.
What is the sum of direct labor and direct materials called?
prime cost = direct labour cost + direct material cost + direct expenses
Does prime cost plus conversion cost equal the cost of manufacturing?
Total Manufacturing Cost = Direct Material + Direct Labor + Factory Overheads Prime Cost = Direct material + Direct Labor Conversion Cost = Direct Labor + Factory Overhead So yes prime cost and conversion cost is equal to total manufacturing cost
What is conversion cost pricing?
Pricing is based on direct labor and overhead. Materials does not affect pricing. Example: Your customer provides materials used in production.
What is the common ratio of labor cost to materials during a bid?
In my opinion the ratio of labor is 40% and Material is 60%
How do you compute cost of labor on piece rate work basis?
cost of materials * 2 = labor total cost of materials *2 / total number of production (less overhead) = labor
What should the relationship of material cost to labor cost be?
labor costs should be half of what the materials cost
How much do Candace Olsen's makeovers cost?
cost of materials and labor
Structural steel erection cost?
Labor materials
Prime cost and conversion cost?
Prime cost = direct materials + direct laborwhile conversion cost = direct labor + factory overhead( which includes indirect materials, indirect labor and other indirect costs
What is prime cost in cost accounting?
Sum of direct materials and direct labor
How you can reduce cost of manufacture?
Reduce the cost of materials, labor or overhead, or improve productivity.
Is the cost of direct materials classified as a conversion cost?
No, Conversion cost is the sum of direct labor cost and manufacturing overhead cost.
What is the typical payment terms for a contractor?
Figure out the cost of materials,and double it. That should cover all the materials, and labor.
What would it cost for the materials and labor cost of pouring a 10'x10' concrete slab?
what is a concrete laborer's salary
Cost-benefit ratio in project?
cost benefit ratio is the ratio to be applied in finding of potentiality of project proposed to be implemented in terms of cost and the available materials ( eg.Land ) for th project which in turn equalizing the sources of capital applied and the resources or input achieved in terms of the ratio in the ascending equation:
