Direct materials + Direct labour + Direct expenses
Revenue - [opening inventory of finished goods + production of goods completed + purchases of finished goods] less closing inventory
Prime cost + Factory overheads + Opening work in progress - Closing work in progress
Indirect materials + Indirect labour + Indirect expenses
How do you calculate prime costs?
How do you calculate production costs?
How is production cost of goods completed calculated?
How is gross profit of a manufacturing business calcluated?
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