Economics · Cost Accounting - Cost Sheet
In the systematic preparation of a Cost Sheet, the 'Prime Cost' is defined as the aggregate of which specific cost elements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Total Sales Revenue minus Total Variable Costs
- 2Factory Cost and Factory Overheads adjusted for Work-in-Progress
- 3Works Cost and Office & Administration Overheads
- 4Direct Material Cost, Direct Labour Cost, and Direct Expenses✓
Correct answer
Direct Material Cost, Direct Labour Cost, and Direct Expenses
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