Burnham industries incurs the following costs for the month: Direct materials$2,000 Direct labor3,000 Factory depreciation expense3,500 Factory utilities expense750 CEO's salary4,000 What is the prime cost?

Prime cost =Direct material +Direct labor

Answered: Burnham industries incurs the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Burnham industries incurs the following costs for the month:

	Direct materials	$2,000
	Direct labor	3,000
	Factory depreciation expense	3,500
	Factory utilities expense	750
	CEO's salary	4,000

What is the prime cost?

Burnham industries incurs the following costs for the month: Direct materials $2,000 Direct labor 3,000 Factory depreciation expense 3,500 Factory utilities expense 750 CEO's salary 4,000 What is the prime cost?