Total Factory Cost Definition
Total Factory Cost Definition:
Total factory cost is equal to total direct materials cost plus direct labor cost plus Factory overhead.
Formula of prime cost can be written as: Prime cost = Direct materials + Direct labour
Other Related Accounting Articles:
- Product Cost or Manufacturing Cost
- Cost Classification as Manufacturing and Non-manufacturing
- Cost Classification as Manufacturing and Non-manufacturing
- Further Classification of Labor Costs
- Cost Classifications on Financial Statements
- Fixed Cost and Variable Cost
- Product Cost VS Period Cost
- Cost Classifications for Assigning Costs to Cost Objects (Direct and Indirect Cost)
- Controllable and Uncontrollable Costs
- Cost in cost accounting meaning
Or
Download E accounting book in MS-word format for just 20 $ - Click here to Download