The Term "Prime Cost" Refers To

question 11

Multiple Choice

The term "prime cost" refers to:

• A)The sum of direct labor costs and all factory overhead costs.
• B)The sum of direct material costs and direct labor costs.
• C)All costs associated with manufacturing other than direct labor costs and direct material costs.
• D)Manufacturing costs incurred to produce units of output.

---

Definitions:

Self-help Books

Publications written with the intention to instruct readers on solving personal problems.

Conflict Theory

Examines how groups disagree, struggle for power, and compete for scarce resources such as wealth and power.

Structural-functionalism

A theoretical framework in sociology that sees society as a complex system whose parts work together to promote solidarity and stability.

Exchange Theory

A social psychological perspective that posits social behavior is the result of an exchange process to maximize benefits and minimize costs.