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Prime Cost Formula

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Prime Cost is the total of direct materials and direct labor costs used in production. Check FAQs

C Prime = DMC + DLC

C_Prime - Prime Cost?DMC - Direct Materials Cost?DLC - Direct Labour Cost?

Prime Cost Example

With values

With units

Only example

Here is how the Prime Cost equation looks like with Values.

Here is how the Prime Cost equation looks like with Units.

Here is how the Prime Cost equation looks like.

1600 = 1000 + 600

1600 = 1000 + 600

1600 = 1000 + 600

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Prime Cost Solution

Follow our step by step solution on how to calculate Prime Cost?

FIRST Step Consider the formula

C Prime = DMC + DLC

Next Step Substitute values of Variables

∴

C Prime = 1000 + 600

Next Step Prepare to Evaluate

∴

C Prime = 1000 + 600

LAST Step Evaluate

∴

C Prime = 1600

Prime Cost Formula Elements

Variables

Prime Cost

Prime Cost is the total of direct materials and direct labor costs used in production.

Symbol: C_Prime

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Prime Cost

Direct Materials Cost

Direct Materials Cost is the expense of raw materials that are directly used in the manufacturing of a product.

Symbol: DMC

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Direct Materials Cost

Direct Labour Cost

Direct Labour Cost is the expense of wages for workers who are directly involved in the production of goods.

Symbol: DLC

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Direct Labour Cost

Other formulas in Cost Accounting category

Go Backorder Rate

BR = (\frac{NUO}{TNO})

Go Conversion Cost

CC = DLC + MOC

Go Cost of Goods Sold

COGS = BI + PDP - EI

Go Customer Acquisition Cost

CAC = \frac{CSM}{NNCA}

How to Evaluate Prime Cost?

Prime Cost evaluator uses Prime Cost = Direct Materials Cost+Direct Labour Cost to evaluate the Prime Cost, The Prime Cost is the sum of direct materials and direct labor costs incurred in production. Prime Cost is denoted by C_Prime symbol.

How to evaluate Prime Cost using this online evaluator? To use this online evaluator for Prime Cost, enter Direct Materials Cost (DMC) & Direct Labour Cost (DLC) and hit the calculate button.

FAQs on Prime Cost

What is the formula to find Prime Cost?

The formula of Prime Cost is expressed as Prime Cost = Direct Materials Cost+Direct Labour Cost. Here is an example- 1600 = 1000+600.

How to calculate Prime Cost?

With Direct Materials Cost (DMC) & Direct Labour Cost (DLC) we can find Prime Cost using the formula - Prime Cost = Direct Materials Cost+Direct Labour Cost.

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: Unit

Prime Cost Formula

Prime Cost Example

Prime Cost Solution

Prime Cost Formula Elements

Other formulas in Cost Accounting category

How to Evaluate Prime Cost?

FAQs on Prime Cost

Variable Name