Prime cost consists of:
A. direct materials and manufacturing overhead.
B. direct labor and manufacturing overhead.
C. direct materials and direct labor.
D. direct materials, direct labor and manufacturing overhead.
Answer: C
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Italian manufacturers of leather goods have agreed to charge uniform prices on all sales in the United States in order to better compete with U.S. manufacturers. Which of the following statements is true? A) The agreement is a violation of U.S. antitrust laws, and the Italian manufacturers can be prosecuted
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