Prime Costs Are the Combination of Direct Labor Costs and Factory

question 153

True/False

Prime costs are the combination of direct labor costs and factory overhead costs.

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Definitions:

Permanent/Temporary

Categories used to differentiate items or statuses that are either enduring without significant change or existing for a limited time, respectively.

Cost Center

A unit or department that incurs costs but does not generate revenues.

Holiday Inn

A brand of hotels known for providing lodging and related services to travelers; part of the InterContinental Hotels Group.

Administrative Department

A division within a company or organization responsible for performing management and support duties, such as clerical work and maintaining records.