Definition of prime cost in English:
The direct cost of a commodity in terms of the materials and labour involved in its production, excluding fixed costs: prime costs for newspaper production were rising fast
More example sentences
- In a document called ‘Report for 1943 Renegotiation ’, Sperry called it company ‘policy’ to lower the prices of its products when manufacturing experience, reflected by reduced prime costs, was gained.
- According to Wright, the development of scientific costing systems in Britain can be traced back to the work of John Walker, who developed a system of allocating overheads based on prime costs.
- Clear criteria will be introduced for charging VAT for goods and services that are sold below their prime cost.
Definition of prime cost in:
- US English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Australia
Most popular in Malaysia
Most popular in Pakistan