Accounting JAMB

Prime cost is one of the following?

A. expenses which can be identified with an allocated to cost centers
B. aggregate direct material cost, direct labour cost and variable direct expenses
C. the cost taken into account in the production process whether direct or indirect
D. the cost of commodities supply to an undertaking

Correct Answer:

Option B – aggregate direct material cost, direct labour cost and variable direct expenses

Explanation

prime cost is the direct cost of a commodity in terms of the materials and labour involved in its production, excluding fixed costs.

Sunday

Share
Published by
Sunday
Tags: Accounting

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

3 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

3 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

3 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

3 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

3 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

3 months ago