Question: What Is Another Name For Prime Cost?

What is another name for cost?

What is another word for cost?pricechargeworthamountbillfiguretariffvalueexpenditureexpense215 more rows.

What are the prime costs?

Prime costs are a firm’s expenses directly related to the materials and labor used in production. … The prime cost calculates the direct costs of raw materials and labor that are involved in the production of a good. Direct costs do not include indirect expenses, such as advertising and administrative costs.

How do you calculate prime cost?

The prime cost formula is as follows:Asset’s cost x (days held ÷ 365) x (100% ÷ asset’s effective life) … $50,000 x (365 ÷ 365) x 10% = $5,000. … Base value x (days held ÷ 365) x (200% ÷ asset’s effective life) … $50,000 x (365 ÷ 365) x (200% ÷ 10) = $50,000 x 20% = $10,000.More items…•

What is the prime cost per unit?

Calculation of Prime Cost Per Unit Prime Cost per Unit = Total Prime Cost / No of Units Produced. If in the above example, suppose company A has produced 4000 units in the month, then the prime cost per unit would be: Total Prime Cost (154000) / No of Units Produced (4000) = 154000 / 4000 = 38.5 per Unit.

How is restaurant Prime cost calculated?

Finance Tip – How to Calculate Your Restaurant Prime CostPrime Cost divided by Total Sales = Prime Cost as a Percentage of Your Sales.Total cost of goods + total labor cost = Prime Cost.$50,000 + $5,000 = $55,000.Prime cost = $55,000.Prime Cost divided by Total Sales = Prime Cost as a Percentage of Your Sales.Prime cost = $55,000.Total Sales = $100,000.More items…

What is opposite of a prime number?

Composite numbersComposite numbers are basically positive integers that can be divided by any positive number other than themselves. In other words, composite numbers are the opposite of prime numbers. Examples include 4, 6, 8, 9, 10, 12 and 14.

Is direct expense a prime cost?

Prime costs are all of the costs that are directly attributed to the production of each product. Prime costs are direct costs, meaning they include the costs of direct materials and direct labor involved in manufacturing an item. Companies use prime costs to price their products.

What is Prime margin?

Prime Margin means the applicable interest rate increment shown on the Pricing Grid Rider to be added for purposes of calculating the Alternate Base Rate.

What’s another word for cost effective?

In this page you can discover 26 synonyms, antonyms, idiomatic expressions, and related words for cost-effective, like: economical, thrifty, frugal, cost-efficient, worthwhile, , convenient, environmentally friendly, penny-wise, time-saving and labor-saving.

Whats the opposite of cost?

paysThe opposite of costs is pays.

What is the meaning of at the cost of?

: by giving up or hurting (something else) She completed the project on time but at the cost of her health.

What is another name for prime?

In this page you can discover 98 synonyms, antonyms, idiomatic expressions, and related words for prime, like: excellent, start, prize, first-class, florescence, earliest, banner, brag, top, choice and superior.

What’s the opposite of Prime?

What is the opposite of prime?inferioratrocioususelessmiddlingunimportanthorrendousdeficientimperfectdullhopeless142 more rows

Why is 11 not a prime number?

For 11, the answer is: yes, 11 is a prime number because it has only two distinct divisors: 1 and itself (11). As a consequence, 11 is only a multiple of 1 and 11.

Is to a prime number?

Prime numbers are numbers that have only 2 factors: 1 and themselves. For example, the first 5 prime numbers are 2, 3, 5, 7, and 11. By contrast, numbers with more than 2 factors are call composite numbers.

What are all the prime numbers?

2, 3, 5, 7, 11, 13, 17, 19, 23, 29, 31, 37, 41, 43, 47, 53, 59, 61, 67, 71, 73, 79, 83, 89, 97 (sequence A000040 in the OEIS).

What is prime cost and overhead cost?

Prime cost is cost of materials and labor involved in a production of commodity, excluding fixed costs. Overhead cost is the cost of on-going expenses such as rent,utility, and insurance.

What are examples of prime cost?

Examples of Prime CostsDirect materials. This is the raw materials used to construct a product. … Piece rate pay. This is the cost of labor and related payroll taxes directly associated with the production of one additional unit. … Service labor. … Commission.