[amp_mcq option1=”Factory cost” option2=”Production cost” option3=”Total cost” option4=”None of these” correct=”option2″]<\/p>\n
The correct answer is: B. Production cost<\/strong><\/p>\n Factory cost is the cost of direct materials and direct labor used in the production of a product. Factory overheads are the indirect costs of production, such as indirect labor, depreciation, and utilities. Production cost is the sum of factory cost and factory overheads.<\/p>\n Factory cost is the cost of the materials and labor that are directly involved in the production of a product. Direct materials are the materials that are used in the production of a product and that can be easily traced to the finished product. Direct labor is the labor that is directly involved in the production of a product and that can be easily traced to the finished product.<\/p>\n Factory overheads are the indirect costs of production. Indirect costs are costs that cannot be easily traced to the finished product. Examples of factory overheads include indirect labor, depreciation, and utilities.<\/p>\n Production cost is the sum of factory cost and factory overheads. Production cost is the total cost of producing a product.<\/p>\n A. Factory cost is the cost of direct materials and direct labor used in the production of a product. It is not the sum of prime cost and factory overheads.<\/p>\n C. Total cost is the sum of production cost and non-manufacturing costs. Non-manufacturing costs are the costs that are not directly related to the production of a product. Examples of non-manufacturing costs include marketing costs, administrative costs, and research and development costs.<\/p>\n D. None of these is the correct answer.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”Factory cost” option2=”Production cost” option3=”Total cost” option4=”None of these” correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-50634","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"\n