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Key Difference – Prime Cost vs Conversion Cost The key difference between prime cost and conversion cost is that prime costs are the costs that can be directly traceable to production units whereas conversation costs are the other related costs of production that cannot be conveniently recognized against a unit of output. Knowledge of […]
Absorption Costing vs Marginal Costing The system of computing the cost of production is known as costing. The main purpose of any costing system is to identify the cost incurred for the production of a unit output. In a manufacturing company, identifying the cost associated with a unit product is very important to price the […]
