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Prime cost is as follows:
1 - Cement (Raw material)(direct material)
2 - workers (direct labor)

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10y ago

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What is the difference between prime cost and work cost?

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 was the cost construction of fenway park?

cost of construction was $650,000 dollars


What was the construction cost of Baker Bowl?

cost of construction was $80,000 dollars


Differntiate between prime cost and factory cost?

Prime cost is a subset of Factory cost. Prime cost consist of Direct material, Direct labour and Direct expenses. Factory cost = Prime cost + Production OH


Where can construction cost estimating software be bought?

You can buy construction cost estimating software on eBay. Construction Book Express also has many different types of construction cost estimating software to buy.


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 was the construction cost of The Bellagio in Las Vegas?

The Bellagio had an original construction cost of $1.6 billion.


What is the formula to calculate prime costs?

Formula for Prime Cost = Material Cost + Labor Cost


Is the direct expense part of prime cost?

yes it is part of the prime cost


What is Prime Margin?

Sales minus Prime cost = Prime Margines. Direct material and direct labor are often referred to as prime cost.


Is indirect cost a prime cost?

No


What are the components of prime cost?

Direct labor and direct materials are the two main components of prime cost. Another component of prime cost is direct expense.