How to Calculate the Prime Cost. For example, the prime costs for creating a table would include raw materials such as the lumber, hardware and paint. For all of the materials, it would cost $200. In this example, it would take three hours to finish the product for sale, and would cost $50 per hour. To find the prime cost of the table, it would then look like this: $200 (Raw Material) + $150 (Direct Labor) = $350 (Prime Cost) Knowing that the prime cost is $350 means that the business cannot sell the table for under $350 unless they wish to incur a loss.
Noleppa and Cartsberg, in their 2013 working paper Agricultural Self-sufficiency of the European Union: Statistical Evidence comment that âThe information base on the EUâs agricultural self-sufficiency is very weakâ.
France ranked first for arable land > hectares amongst European Union in 2005. Canada ranked first for arable land > hectares amongst NATO countries in 2003. India has ranked #2 in arable land > hectares since 1961. Australia ranked second for arable land > hectares amongst High income OECD countries in 2005. China ranked third for arable land > hectares amongst Cold countries in 2003. Spain ranked second for arable land > hectares amongst Eurozone in 2005. Japan ranked last for arable land > hectares amongst Group of 7 countries (G7) in 2005. Factoid #126 Iceland has many, many more tractors per 1000 hectares of cropland than any other nation - more than twice that of the next highest country, Slovenia.