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Question
Wages paid to a labour who was engaged in the production activities can be termed as ______.
Options
Direct cost
Indirect cost
Sunk cost
Implicit cost
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Solution
Wages paid to a labour who was engaged in the production activities can be termed as direct costs.
Explanation:
Wages paid to labour engaged in production activities are referred to as direct costs. A direct cost is a price entirely related to the production of certain goods or services.
RELATED QUESTIONS
Write a short note on direct costs.
Overheads are often related to accounting concepts such as fixed cost and ______ cost.
The cost remains same at all levels of output is called ______ cost.
It refers to the expenses incurred on those items which are not directly chargeable to production. Salaries of timekeeper, foremen and watchmen are examples of this cost. This cost is incurred for the concern as a whole rather than a particular product.
Which definition best describes indirect costs?
Which of the following best describes a fixed cost?
Fixed cost is a cost which remains same at ______.
Direct cost increases when ______.
Distinguish between direct costs and indirect costs.
Distinguish between shut down cost and sunk cost.
Distinguish between Direct Labour cost and Indirect Labour cost.
Give an example of opportunity cost.
Fixed cost per unit decreases when ______.
Amount spent to purchase a machinery is the example of ______ cost.
"Some costs are semi-variable in nature." Comment.
What is meant by variable cost?
Give an example of Semi-Fixed cost.
Explain with an example, the meaning of fixed costs.
Write short notes on Variable Costs.
