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What should the relationship of material cost to labor cost be?
Wiki User
∙ 12y ago
labor costs should be half of what the materials cost
Wiki User
∙ 12y ago
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What are the basic elements of production cost?
material cost Labor cost Overhead Cost
Some examples of direct material cost and direct labor cost?
examples of dierect material,indirect,labour,and expenses cost
What is differanciate prime cost from conversion cost?
The fact that cost which requires to convert raw material into finished goods like direct labor and overhead differentiate the prime cost from conversion cost which includes raw material and labor.
What are the three main costs that are included in the price of a product?
1 - Raw material cost 2 - Direct labor cost 3 - Overhead Cost
How do you calculate cost price?
Total cost price = Material cost + labor cost + overheads costs
What is direct cost?
Direct cost is that cost which is directly attributable to products like material and labor.
What is the formula to calculate prime costs?
Formula for Prime Cost = Material Cost + Labor Cost
What is the formula for prime cost?
Formula for prime cost = direct material + direct labor
What are the three cost categories on a job cost sheet?
direct material cost , direct labor cost , manufacturing cost
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.
Resource cost can be associated with labor cost or material consumable resources?
Variable costs not Resource
What is the cost per s?
Cost per square foot. Either material or labor or both.
