What is the chief difference between manufacturing and service industry firms?

Q: How do the income statements of a manufacturing firm and a service firm differ?

A: Manufacturing firm is the one which is involved in the production of the products whereas service…

Q: What factors influence a company’s WACC?

A: Weighted average cost of capital (WACC): It may be an estimation of the cost of capital of a company…

Q: How have advances in manufacturing technology affected overhead application?

A: Overhead application: It is a process of allocating the cost to the jobs, the allocation of cost is…

Q: Which of the following is NOT a reason for companies to assign costs to products or services?

A: We know that objective of every business is to attain profitability  Now, Profit for business is =…

Q: Explain the difference between service company and manufacturing company.

A: Explain the difference between a service company and a manufacturing company.   Service Company:…

Q: How should a company decide on the number of cost pools it should use to allocate costs to…

A: Costing: Costing is a technique used in cost accounting to determine the cost of a product. With the…

Q: Is it correct that managerial accounting mainly provides services for manufacturing organizations?…

A: The concept of managerial accounting is majorly used to analyzed costs incurred on the products but…

Q: industry cost standards

A: The financial position of the company can be arrived from the income statement prepared by the…

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

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

Q: What is the danger in allocating common fixed costs among products or other segments of an…

A: The costs which are not allocated to any specific segment in the business organization are called…

Q: Under what conditions must an enterprise provide information about products and services?

A: If operating segments of an enterprise have not been determined based on Differences in products and…

Q: What makes POS systems different from revenue cycles of manufacturing firms?

A: POS System:   It is a system implemented in rattail sectors where the sale transaction taking place…

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: importance for a company whose products can be processed further

A: Further processing is a term used in association with joint products. Joint products are produced…

Q: How can accounting con

A: these three steps can increase the capacity of of an accounting firm. Adopt a cloud-based platform…

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: how to exploit the connection between the business cycle and industry analysis?

A: A business cycle can be referred to as an economic cycle of expansion and contraction over a period…

Q: the difference in the performance of various firms within an industry limit the usefulness of…

A: The aim of conducting Industry analysis is to identify opportunities in which the investor can put…

Q: In performing CVP analysis for a manufacturing company, what simplifying assumption is usually made…

A: Definition:  Cost-volume profit analysis: CVP analysis is a tool of cost accounting that measures…

Q: What term describes all business processes associated with providing a product or service? O The…

A: A product is a tangible item that can be sold to the customers.  Service is an intangible item which…

Q: 1. Why do entrepreneurs need to consider the credibility of suppliers in choosing suppliers of raw…

A: Credibility of Suppliers is one of the key considerations for choosing suppliers.  Credible…

Q: What are the three major types of product costs in a manufacturing company?

A: Products costs refer to the cost incurred by the firm to produce a product or render a service. It…

Q: How does lean manufacturing differ from the conventional manufacturing process?

A: Lean ManufacturingThe main objective of lean manufacturing is to yield products with high quality,…

Q: How do manufacturing companies differ from merchandising companies?

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

Q: How do commercial businsses support the work of industrial business

A: Gaining profits is a primary motive for trading businesses mostly which can be treated as commercial…

Q: Do you think transaction processing systems differ significantly between service and manufacturing…

A:

Q: Evaluate cost factors influencing a company's decision.

A: Cost factor is the factor or an element which is related to unit of product for which some amount of…

Q: How is “yield” determined for a process manufacturer?

A: Process costs It is a method of cost accounting, which is used where the production is continuous,…

Q: What factors explain the differences in company performance in the same industry?

A: For firms within the same business sector like Mcdonalds, Starbucks, burger king, etc in the…

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

A:

Q: the differences between service business and merchandising business?

A: Merchandise business is a kind of business wherein revenues are earned by providing or selling goods…

Q: What is a reasonably foreseeable use of a productand why is it important to companies?

A:

Q: Why would a corporation choose process costing over task order costing? How are the two systems…

A: Here is the Answer

Q: How are cost structures fundamentally different between the traditional and computer-integrated…

A: Sales order starts the manufacturing process under a traditional manufacturing environment. The…

Q: What is supply-chain analysis, and how can it benefit manufacturers and retailers?

A: Describe a supply chain analysis.   A supply chain refers to a network between the organisation and…

Q: How many cost pools should a company use when allocating costs to divisions, channels, and…

A: Cost Pool: The cost accountant makes individual group of all the indirect cost used in an item. The…

Q: In the context of a real-life company, an identification and discussion of the different types of…

A: The question is related to Cost Accounting. Cost  is the amount of resource given up in exchange of…

Q: How does automation help achieve manufacturing flexibility?

A:

Q: How exactly does the Net Present Value tool work and how is the IRR set within a company?

A: Net present value:- Net present value is the investment evaluation technique, where we evaluate…

Q: What is the difference between cost leadership and product differentiation?

A: Cost leadership is a one of the effective marketing strategies. Despite being highly effective in…

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:-…

Q: How do companies determine target costs?

A: Identify the selling price using the market competitor.