What statements better explain what Prime Cost is? (select ALL correct statements) 000 It should be somewhere around 60% by industry standards. It is the amount of your total labour cost, including fix and variable costs such as wages, salaries, benefits, prid leave and contractual costs. It is the percentage of your all your costs in relation to the sales price. It is your sales price subtracted by your food cost. It is the total sum of your labor costs and your cost of goods sold (COGS), including food and liquor. Prime costs are also known as your direct costs. It is the percentage of labour cost and cost of good sold related to your final profit. It should vary between 30% -35% according to industry standards