- prime cost
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n.The true price paid for something; the true cost of an item, including the material and labor used to produce it.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
prime cost
Look at other dictionaries:
prime cost — UK US noun [C] ► ACCOUNTING DIRECT COST(Cf. ↑direct cost) … Financial and business terms
prime cost — prime′ cost′ n. that part of the cost of a commodity deriving from the labor and materials directly utilized in its manufacture • Etymology: 1710–20 … From formal English to slang
prime cost — n. the direct cost of labor and material in producing an article, exclusive of capital, overhead, etc … English World dictionary
prime cost — noun count or uncount BUSINESS the money that is needed for the materials and workers involved in making a product ─ compare OVERHEAD … Usage of the words and phrases in modern English
prime cost — noun 1. : the combined total of raw material and direct labor costs incurred in production 2. : the direct or immediate cost of a commodity; specifically : the cost or expenses of producing or obtaining a commodity exclusive of general expenses… … Useful english dictionary
Prime Cost — A business’s expenses for the materials and labor it uses in production. Prime cost is a way of measuring the total cost of the production inputs needed to create a given output. By analyzing its prime costs, a company can determine how… … Investment dictionary
prime cost — UK / US noun [countable/uncountable] Word forms prime cost : singular prime cost plural prime costs business the money that is needed for the materials and workers involved in making a product See: overhead … English dictionary
prime cost — 1. *Direct costs in a manufacturing process. Prime costs usually exclude *overheads. 2. An alternative term for *conversion cost … Auditor's dictionary
prime cost — noun Date: 1698 the combined total of raw material and direct labor costs incurred in production; broadly cost less vendor s or agent s commission for charges … New Collegiate Dictionary
prime cost — that part of the cost of a commodity deriving from the labor and materials directly utilized in its manufacture. [1710 20] * * * … Universalium
