Major components of cost of production are:
A)Material Cost
B)Utilities and Labour Cost
C)Factory overhead Cost
D)All of the Above

Question

Quizplus · Accepted Answer

All of the options listed are major components of the cost of production. Material cost covers the raw materials used in production, utilities and labor cost encompasses the expenses related to workers and utility services (like electricity, water), and factory overhead cost includes indirect costs such as depreciation of equipment and rent for the factory space.

Major Components of Cost of Production Are