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. 2001.

Look at other dictionaries:

  • prime cost — UK US noun [C] ► ACCOUNTING DIRECT COST(Cf. ↑direct cost) …   Financial and business terms

  • prime cost — 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 …   Law dictionary

  • 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 — that part of the cost of a commodity deriving from the labor and materials directly utilized in its manufacture. [1710 20] * * * …   Universalium

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