0
Cost to purchase basic raw material for the manufacturing of product is called the raw material cost like in cost of wood in furniture etc.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Is raw materials variable cost or fixed cost?
raw material cost variable cost because it change with volume of product i.e. the more you produce the more you have to purchase for raw material. Fixed cost are never change with changing in volume.Raw Material Cost is variable cost
What do you mean by work in progress in cost accounting?
work in progress means the raw materials which are kept processing but not yet finished,it excludes the opening stock of raw materials and closing stock of finished goods its value is higher than raw material but significantly low as cost of finished goods
What are direct raw materials costs?
Direct material cost is that cost of material which is used to manufacture goods like wood for furniture etc.
What are examples of fixed and variable cost factory?
examples of fixed cost factory are salary, rent, electricity bills while variable cost are purchase of raw materials,
Difference between conversion cost and prime cost?
Prime cost is that cost component without which no production is possible while conversion cost is that cost which required to convert raw materials into finished goods like direct labor and overhead costs.
What effect does a rise in the cost of machinery or raw materials of raw materials have on the cost of a good?
The good becomes more expensive to produce
Raw materials for PVC pipe factory and what is the cost of raw materials?
Some of the raw products needed to make PVC pipe include ethylene, chlorine, sodium hydroxide, and hydrogen. The cost of these raw materials fluctuates widely.
What is a variable cost A. office adminidtration B. rent C. building maintenance or D. raw materials?
Raw materials is the only variable cost in the above options.
Which cost is an example of a variable cost?
Sales and comssion on other categories
Which condition leads to an increase in supply?
an increase in the cost of raw materials
Is raw materials variable cost or fixed cost?
raw material cost variable cost because it change with volume of product i.e. the more you produce the more you have to purchase for raw material. Fixed cost are never change with changing in volume.Raw Material Cost is variable cost
Factors that affect Boeings planning?
Demand, cost of raw materials and competition
Why are manufactured goods more expensive than raw materials?
Because they (the raw materials) have been processed and then manufactured into consumer products. And those two actions require cost and other machines to turn it into a product.
What effect does a rise in the cost of machinery or raw materials have on the cost of a good?
The good becomes more expensive to produce.
What is the antonym for raw materials?
Raw materials
What are three major cost components of a manufactured product?
Materials(the cost of the raw materials used in the product) Labour(the cost in employing workers to manufacture the product) Transportation(the costs associated with both the transportation of the materials and of the finished product)
What do you mean by work in progress in cost accounting?
work in progress means the raw materials which are kept processing but not yet finished,it excludes the opening stock of raw materials and closing stock of finished goods its value is higher than raw material but significantly low as cost of finished goods
