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multiply the cost of labor by the cost of materials.
add the cost of labor and materials.
subtract the cost of labor from materials.
divide the cost of labor by the cost of materials. which one is correct
What else can I help you with?
What are the basic elements of production cost?
material cost Labor cost Overhead 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.
Some examples of direct material cost and direct labor cost?
examples of dierect material,indirect,labour,and expenses cost
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.
Is total cost different from overhead cost?
Overhead cost is part of total cost and not different from total cost as formula is as follows: Total cost = material cost + labor cost + overhead cost
What is the cost per s?
Cost per square foot. Either material or labor or both.
