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Meaning of "prime cost" in the English dictionary

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DICTIONARY
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PRONUNCIATION OF PRIME COST

prime cost play
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GRAMMATICAL CATEGORY OF PRIME COST

noun
adjective
verb
adverb
pronoun
preposition
conjunction
determiner
exclamation
Prime cost is a noun.
A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES PRIME COST MEAN IN ENGLISH?

Variable cost

Variable costs are costs that change in proportion to the good or service that a business produces. Variable costs are also the sum of marginal costs over all units produced. They can also be considered normal costs. Fixed costs and variable costs make up the two components of total cost. Direct costs, however, are costs that can easily be associated with a particular cost object. However, not all variable costs are direct costs. For example, variable manufacturing overhead costs are variable costs that are indirect costs, not direct costs. Variable costs are sometimes called unit-level costs as they vary with the number of units produced. Direct labor and overhead are often called conversion cost, while direct material and direct labor are often referred to as prime cost. In marketing, it is necessary to know how costs divide between variable and fixed. This distinction is crucial in forecasting the earnings generated by various changes in unit sales and thus the financial impact of proposed marketing campaigns. In a survey of nearly 200 senior marketing managers, 60 percent responded that they found the "variable and fixed costs" metric very useful.

WORDS THAT BEGIN LIKE PRIME COST

prime
prime bill
prime factor
prime focus
prime meridian
prime minister
prime ministerial
prime ministership
prime ministry
prime mover
prime number
prime rate
prime time
prime vertical
prime-time
primely
primeness
primer
primero
primers

WORDS THAT END LIKE PRIME COST

accost
alecost
at any cost
baseline cost
capital cost
cost
distribution cost
factor cost
low-cost
oncost
opportunity cost
Pentecost
plant cost
replacement cost
standard cost
unit cost
variable cost

Synonyms and antonyms of prime cost in the English dictionary of synonyms

SYNONYMS

Translation of «prime cost» into 25 languages

TRANSLATOR
online translator

TRANSLATION OF PRIME COST

Find out the translation of prime cost to 25 languages with our English multilingual translator.
The translations of prime cost from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «prime cost» in English.

Translator English - Chinese

主要成本
1,325 millions of speakers

Translator English - Spanish

precio de coste
570 millions of speakers

English

prime cost
510 millions of speakers

Translator English - Hindi

प्रधानमंत्री लागत
380 millions of speakers
ar

Translator English - Arabic

التكلفة الأولية
280 millions of speakers

Translator English - Russian

себестоимость
278 millions of speakers

Translator English - Portuguese

preço de custo
270 millions of speakers

Translator English - Bengali

প্রধান খরচ
260 millions of speakers

Translator English - French

prix de revient
220 millions of speakers

Translator English - Malay

Kos perdana
190 millions of speakers

Translator English - German

Selbstkosten
180 millions of speakers

Translator English - Japanese

原価
130 millions of speakers

Translator English - Korean

원가
85 millions of speakers

Translator English - Javanese

Biaya prima
85 millions of speakers
vi

Translator English - Vietnamese

giá vốn
80 millions of speakers

Translator English - Tamil

முதன்மை செலவு
75 millions of speakers

Translator English - Marathi

प्राइम कॉस्ट
75 millions of speakers

Translator English - Turkish

Asal maliyet
70 millions of speakers

Translator English - Italian

costo principale
65 millions of speakers

Translator English - Polish

koszt własny
50 millions of speakers

Translator English - Ukrainian

собівартість
40 millions of speakers

Translator English - Romanian

Premierul a costurilor
30 millions of speakers
el

Translator English - Greek

αρχικό κόστος
15 millions of speakers
af

Translator English - Afrikaans

primêre koste
14 millions of speakers
sv

Translator English - Swedish

självkostnad
10 millions of speakers
no

Translator English - Norwegian

prime kostnad
5 millions of speakers

Trends of use of prime cost

TRENDS

TENDENCIES OF USE OF THE TERM «PRIME COST»

The term «prime cost» is regularly used and occupies the 108.184 position in our list of most widely used terms in the English dictionary.
0
100%
FREQUENCY
Regularly used
50
/100
The map shown above gives the frequency of use of the term «prime cost» in the different countries.
Principal search tendencies and common uses of prime cost
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «prime cost».

FREQUENCY OF USE OF THE TERM «PRIME COST» OVER TIME

The graph expresses the annual evolution of the frequency of use of the word «prime cost» during the past 500 years. Its implementation is based on analysing how often the term «prime cost» appears in digitalised printed sources in English between the year 1500 and the present day.

Examples of use in the English literature, quotes and news about prime cost

EXAMPLES

10 ENGLISH BOOKS RELATING TO «PRIME COST»

Discover the use of prime cost in the following bibliographical selection. Books relating to prime cost and brief extracts from same to provide context of its use in English literature.
1
General Theory Of Employment , Interest And Money
Long-period cost must obviously include an amount to cover the basic supplementary cost as well as the expected prime cost appropriately averaged over the life of the equipment. That is to say, the long-period cost of the output is equal to the ...
John Maynard Keynes, 2006
2
Fresh Perspectives:Cost and Management Accounting
Elda Du Toit. Figure 2.3 Semi-variable (semi-fixed] costs Cost -*. Activity level Prime and conversion costs The third way of classifying costs is called prime and conversion costs. First, prime cost is the total of all direct costs. Prime cost ...
Elda Du Toit, 2007
3
Practical Food and Beverage Cost Control
To do so, you must evaluate what is called the prime cost. Prime cost factors in the many variable "hidden" expenses that operators incur (whether they realize it or not) when they process products on-site. The term prime cost refers to labor, ...
Clement Ojugo, 2009
4
Spon's Architects' and Builders' Price
14 MASONRY PC £ Item Bullseye windows; 600 mm dia.; cut voussoirs; prime cost £ per 1000 height on face 215mm, width of exposed soffit 102mm, one ring – height on face 215mm, width of exposed soffit 215mm, one ring – Bullseye ...
Davis Langdon, 2013
5
Contracts and International Project Management
Note that there can be a blurred distinction in many publications and discussions between GMP and the prime cost version - fee based on guaranteed maximum cost contracts. 3.4 PRIME COST CONTRACTS Alternative names for prime cost ...
David G. Carmichael, 2000
6
Business, Accounting, Finance Problem Solver
Overhead is allocated to each department according to the ratio of total overhead to the total prime cost. During February, total direct labor costs came to $216,000 and the cost of materials to $84,000. The total overhead for the month was ...
Max Fogiel Research and Education Association
7
Laxton's Building Price Book 2002: Major and Small Works
JOBBING WORK DEFINITION OF PRIME COST OF BUILDING WORKS OF A JOBBING OR MAINTENANCE CHARACTER Reproduced by permission of the Royal Institution of Chartered Surveyors. This Definition of Prime Cost is published by ...
V B Johnson, 2001
8
Spon's External Works and Landscape Price
The basis of costing is a matter for agreement between the parties concerned, but definitions of prime cost for the building industry have been prepared and published jointly by the Royal Institution of Chartered Surveyors and the National  ...
Davis Langdon, 2012
9
Health Care Food Service Systems Management
$0.26 $0.47 = $0.55 For more accuracy in computing the selling price of a food item, a prime cost method is used. The prime cost method includes both the food and labor costs, to which a percentage is added for profit and other costs.
Catherine F. Sullivan, Courtney Atlas, 1998
10
Principles of Food, Beverage, and Labor Cost Controls
Prime cost is a term our industry uses to refer to the costs of materials and labor: food, beverages, and payroll. Unfortunately, although everyone agrees that total food costs and total beverage costs should be included in prime cost, there is no  ...
Paul R. Dittmer, J. Desmond Keefe, 2006

10 NEWS ITEMS WHICH INCLUDE THE TERM «PRIME COST»

Find out what the national and international press are talking about and how the term prime cost is used in the context of the following news items.
1
Weekly actual topics in Azerbaijan (July 20-24)
... liquefied natural gas, as well as Gazprom's reluctance to sell gas at low prices by explaining this with high prime cost of pipeline construction. «Trend News Agency, Jul 15»
2
Who will buy Statoil's share in TAP?
... liquefied natural gas, as well as Gazprom's reluctance to sell gas at low prices by explaining this with high prime cost of pipeline construction. «Trend News Agency, Jul 15»
3
Some flights can be closed due to decrease in air ticket prices …
Each flight has its prime cost, according to Mammadov. “AZAL has recently opened a large number of new flights on various routes,” he said. «Trend News Agency, Jul 15»
4
AZAL: Some flights can be closed due to decrease in airfare
Each flight has its prime cost, according to Mammadov. “AZAL has recently opened a large number of new flights on various routes,” he said. «AzerNews, Jul 15»
5
Russia, OPEC to Discuss Oil Prices after Lifting of Iran
... from Iran on the market as the market has already assessed this effect and the prices will be formed based on the prime cost of shale oil. «Sentinel Republic, Jul 15»
6
T-Mobile To Launch HTC Desire 626s, Samsung Galaxy Grand …
HTC Desire 626s will carry a $169 price tag, while the Galaxy Grand Prime, and Galaxy Core Prime cost $189 and $139, respectively. «Geeky Gadgets, Jul 15»
7
Lifting sanctions from Iran to immediately affect oil prices - expert
If oil prices fall further and cost below $60 per barrel, the prime cost of oil could become almost twice as high as the oil prices. Accordingly, it will ... «Trend News Agency, Jul 15»
8
Executive Q&A: Recycling is not just a dream
We buy the bottles with a very high prime cost. And the chips that you sell can't be more expensive than the plastic directly made from ... «Plastics News, Jul 15»
9
Rehabilitation of Rural Areas Required to Ensure Country's …
The size of the state subsidies provided to the agricultural sector covers only 8 percent of the prime cost of farm produce. In Europe, this figure ... «Astana Times, Jul 15»
10
JSC Nikora to Achieve 30% Realization Growth in 2015
However their prime cost is on average 1.5 times higher than that which is imported. The difference is significant. It is naturally reflected in the ... «The FINANCIAL, Jul 15»

REFERENCE
« EDUCALINGO. Prime cost [online]. Available <https://educalingo.com/en/dic-en/prime-cost>. Apr 2024 ».
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