Discuss the difference in the operating cycle of merchandising and the service business

Q: Explain the type of inventory in the manufacturing companies, service companies and merchandise…

A: Classification and uses of inventories in manufacturing companies, service companies and the…

Q: Explain how business activities and inventories for a manufacturing company, a merchandising…

A: Manufacturing company:   Manufacturing companies produce their own goods and sell it to the…

Q: Define value chain and classification of costs for “Distribution costs for shopping the Latitude…

A: Value Chain:

Q: Describe how a large retailer such as Lowes would assign overhead costs to products.

A:

Q: Distinguish between manufacturing-, merchandising-, and service-sector companies?

A: Manufacturing companies are the  ones which procure raw materials and carry out manufacturing…

Q: Explain different costing and pricing methods to make business decisions.

A: Decision-making process: Decision making can be defined as the process of making choices through…

Q: Companies that buy and sell goods are called: O a. merchandising businesses. O b. service providers.…

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

Q: why service industry involve operating expenses and retail industry involve operating expenses and…

A: Service Industries include those companies which offers only services to other industries. Retail…

Q: Describe how manufacturing, merchandising and service-sector companies differ from one another?

A: Manufacturing Companies: Merchandiser is a person or organization who buys goods with the purpose of…

Q: What is the purpose served by cost information illustrating it in relation to manufacturing business

A: A manufacturing company is an entity engaged in the production of goods. Manufacturing is about the…

Q: Describe merchandising activities and identify income components for a merchandising company

A: merchandising activities Merchandising activities involve buying goods or products from the…

Q: How do service companies differ from manufacturing companies?

A: Company:   A company refers to an artificial judicial person created by a group of individuals who…

Q: What distinguishes a merchandising business from a service business?

A: Merchandising Company and Service Company: A merchandising company generates income by selling goods…

Q: Explain the differences in managerial and financial accounting for a clothing retailer.  Please…

A: The management accounting is generally created for a firm's internal audience, whereas financial…

Q: The most sector needs the cost accounting information is Select one: a. Manufacturing sector b. Bank…

A: Cost accounting information includes the information related to: Total Cost of producing the…

Q: How does the format of the income statement for a manufacturing concern differ from the income…

A: Manufacturing company: Any company that is directly related to manufacturing and its refers to a…

Q: How does a manufacturing company calculate the cost of goods sold? How is this different from a…

A:

Q: Two categories of expenses for merchandising companies are

A: Option d

Q: What is the primary distinction between a service company and a manufacturing or merchandising…

A:

Q: How does reporting information for a merchandising company differ from financial reporting for a…

A: Merchandising Company:   A merchandising company is a type of company that engages in the purchase…

Q: How do an income statement and a balance sheet for a manufacturing company and a merchandising…

A: Manufacturing company: Manufacturing companies produce their own goods and sell it to the…

Q: What is the difference of price and cost? From (a) point of view of a customer; and (b) point of…

A: For businesses, the term "cost" refers to the expenditure associated with producing a something or…

Q: Explain Operating Cycle of a Typical Merchandising or Manufacturing Company.

A: Operating cycle: The operating cycle is the period of time which is required to meet the initial…

Q: Distinguish between service and merchandising operations.

A: Merchandise inventory refers to business which deals in trading of goods such as purchase and sale…

Q: How do the product costs move through the various accounts and affect the balance sheet and the…

A: Inventory:   Inventory refers to the raw materials, work-in process, and the finished goods…

Q: What is the difference between cost of sales,selling price,labour costs in a formal business

A: Variable cost: It is the cost that changes with the change in level of unit

Q: Describe how the income statement of a manufacturing company differs from the incomestatement of a…

A: The income statement is a statement that encompasses all the revenues and expenses for the year. The…

Q: What is the distinction between merchandising and manufacturing companies?

A:

Q: 1. What are the three primary reasons of using a standard cost system? In a business that routinely…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Briefly explain Cost Behavior and its importance in retail industry.

A: Cost behavior is an important concept in accounting. Proper use of common sense will assist managers…

Q: why service industry not involved production cost and retail industry involve in production cost?

A: In the method of Job costing a particular service is obtained by allocating costs to a distinct…

Q: Service industry costing, differences. Explain why costing methods used in the service industry are…

A: Service industry involves the transfer of non-tangible products between the part rendering the…

Q: Which of the following is the primary source of revenue for a merchandising business?A. the…

A: Mainly there are two types of business involved in the product line i.e. manufacturing and…

Q: Describe a merchandising company's operational cycle.

A: The Answer:

Q: Define Operating cycle of Merchandising Company,

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: What is journal entry once goods are completed and then sold? The subject is Managerial Accounting.

A: The costs incurred during the period are debited to Work in process. Completed goods are transferred…

Q: Describe the operating cycle of a merchandising company.

A: An operating cycle can be defined as the process of obtaining merchandise inventory, selling the…

Q: please differentiate the cost flow in a Service, Merchandising and Manufacturing Business?

A: Merchandise industries are those that produce goods from the goods purchased from other parties.…

Q: nce sheet for a manufacturing company and a merchandising company differ?

A: At first it appears that there is no difference between the income statements of the merchandising…

Q: What is the distinction between service and merchandisingcompanies?

A: Despite the fact that marketing organizations and administration organizations adjust to sound…

Q: How are a merchandiser's  inventories different from the inventories of a service-oriented firm .

A: Solution:- Merchandiser’s inventories different from the inventories of a service-oriented firm:-…