prime cost

noun

Definition of prime cost

: the combined total of raw material and direct labor costs incurred in production broadly : cost less vendor's or agent's commission for charges

First Known Use of prime cost

1695, in the meaning defined above

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Time Traveler

The first known use of prime cost was in 1695

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Cite this Entry

“Prime cost.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/prime%20cost. Accessed 10 Aug. 2020.

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