Khimji Ramdas Interview Questions and Answers

Prime cost is the direct cost of materials and labor required to produce a product or service.

• Prime cost includes the cost of raw materials, direct labor, and any other direct costs associated with production.

• It does not include indirect costs such as rent, utilities, or administrative expenses.

• Calculating prime cost is important for determining the profitability of a product or service.

• For example, if a company produc...read more