Conversion cost is: A) Material Cost + Overhead Cost B) Direct Labour + Material Cost C) Direct Labour – Material Cost D) Labour Cost + Overhead Cost Related MCQs: Conversion Cost is calculated as under: A toy is sold for Rs. 220 What was the cost if the rate of profit was 10% of the cost? Four People shared a taxi to the airport. The fare was Rs.40 and they gave the driver cost of the fare and tip to 30% of the fare. If they equally shared the cost of fare and trip how much did each person pay? A doll is sold for Rs. 220. What was the cost of doll if rate of profit was 10% of the cost?