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.

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Definitions:

Iris

The colored ring of muscle that surrounds the pupil of the eye, controlling the size of the pupil and the amount of light that enters.

Accommodation

In psychology, it refers to the cognitive process of revising existing cognitive schemas, perceptions, and understanding so that new information can be incorporated.

Lens

A curved piece of glass or other transparent material that focuses or refracts light, used in optical devices like glasses, cameras, and microscopes.

Retina

A thin layer of tissue at the back of the eye that contains the cells responsible for converting light into neural signals for vision.