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Prime Cost = Raw Materials + Direct Labor. The prime cost of a single bed frame is ($6,500 + $750) / 10, or $72.50. In order to generate a profit, the company must sell each frame for more than $72.50.
What is a 'Prime Cost'. Prime cost refers to a manufactured product's costs, which are calculated to ensure the best profit margin for a company. The prime cost calculates the use of raw materials and direct labor, but does not factor in indirect manufacturing expenses such as the cost for a company logo or gas used to deliver the product.