Which of the Following Costs Is Classified as Both a Prime

question 178

Multiple Choice

Which of the following costs is classified as both a prime cost and a conversion cost?

• A) Direct materials.
• B) Direct labor.
• C) Variable overhead.
• D) Fixed overhead.

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Definitions:

Status Symbols

Objects or signs that individuals use to indicate their social position or economic wealth.

Survives On

A phrase typically used to describe the essential resources or conditions necessary for an organism, business, or system to continue existing or functioning.

Discretionary Income

The sum of money a person has left for investment, saving, or spending after covering taxes and basic living costs.

Fastest-Growing Segment

The part of a market or industry that is expanding at the highest rate compared to others.