PRIME COST Definition

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PRIME COST is equal to the sum of DIRECT MATERIAL plus DIRECT LABOR.

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HEAD OF HOUSEHOLD is a U.S. income tax filing status that can be used by an unmarried person who maintains a home for a dependent (or nondependent relative) during the tax year.

LONG-LIVED ASSETS are usually those assets that are not consumed during the normal course of business, e.g. land, buildings and equipment, etc.

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