Cost Basics - Cost Basics Click to edit Master subtitle...

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Click to edit Master subtitle style 7/7/11 Cost Basics
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7/7/11 Elements of Cost Direct Material Cost Direct labour Cost Other Production Cost Direct Cost Indirect Costs
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7/7/11 Direct Cost Direct Material Cost Direct Labour Cost Other Direct production Costs
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7/7/11 Indirect Cost/Overheadcost Incured in the course of producing, but cannot be traced in the product; Examples: Wages of a Supervisor Cleaning material Workshop insurance
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7/7/11 Prime Cost & FOH
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Classwork 1-Calculate missing costs: Material Labour Other Production cost ? ? Direct 100 100 100 ? ? Indirect 10 20 5 ? ? Material Labour Other Production cost ? ? ? 100 ? 100 600 Prime Cost ? 10 20 ? 70 FOH Material ? Other Production cost ? ? ? 100 100 500 Prime Cost Indirect ? 15 5 200 ?
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Classwork 2-Calculate missing costs: Material Labour Other Production cost ? ? Direct 300 400 500 ? ? Indirect 20 40 15 ? ? Material Labour Other Production cost ? ? ? 500 ? 700 200 0 Prime Cost ? 100 200 ? 700 FOH Material ? Other Production cost ?
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