Question

what do you understand by production cost ?​

Answer 1

Answer:

Production or product costs refer to all the costs incurred by a business from manufacturing a product or providing a service. Production costs can include a variety of expenses, such as labor, raw materials, consumable manufacturing supplies, and general overhead.

Answer 2

Answer:

The total price paid for the resources used to manufacture a product or create a service, such as raw materials, labour, and others, is called the production cost. The product/service created is to be sold to consumers.

Explanation:

Hope it helps you.