What is the nature of the authoritative guidance for advertising costs for entertainment companies?

Q: What role does the Cost Accounting Standards Board play when companies contract with the U.S.…

A: Cost Accounting Standards:   The cost accounting standards are the standards set by a board which is…

Q: Management accounting guidelines.  For each of the following items, identify which of the management…

A: Planning and Control Decision:Planning decisions involves selecting organization goals, estimating…

Q: Which of the following cost is included in cost of goods sold? customer service cost manufacturing…

A: In layman's language, the Cost of goods sold is nothing but the total cost incurred to produce a…

Q: Which objective of cost accounting classifies and analyzes cost date for measuring efficiency? a.…

A: Answer: Concept: Cost accounting is defined as the accounting system which helps to analyze the cost…

Q: What modifications are made to the cost classification of product costs in estimating service costs?

A: Cost classification refers to the separation of various expenses into different categories. It is…

Q: How do the activities of manufacturers, merchandisers, and service businesses diffe

A: Solution- Business is any activity undertaken to earn profit. There can be three basic types of…

Q: Suggest a reasonable basis for allocating thefollowing indirect expenses to departments: advertising

A: An indirect cost is the cost which is indirectly involved in the process of production.

Q: Explain the impact of Migration in marketing?

A: Migration in a general sense refers movement of something from one place to another. If a person is…

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: What are the key differences in performing adjusting and  closing for a service company, versus a…

A: The key difference: Since service companies will not have inventory, so there no adjustment required…

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 the factors that drive sales and revenue: Income Advertising Preferences Pricing

A: Income : Income is the money received by a person or a company in exchange for labour, the…

Q: How cost accounting covers the problem of price assessment

A: Cost Accounting Cost accounting is also a form of group action accounting that aims to capture a…

Q: What level of importance do product costs play in the business process? what kind of management…

A: Product cost: Cost incurred to produce a product is called product cost. It includes the cost of…

Q: What questions should managers answer when considering selling a product as is or processing…

A: Sell or process further decision rule: Sell or process further decision rule states that "if the…

Q: Being the accounting specialization student, explain the costing method followed by the ABC Company…

A: The answer for the question on the costing method followed by ABC Company to get required profit is…

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: Explain why, in most cases, a seller recognizes revenue when it delivers its product rather than…

A:

Q: What is the difference between the selling price,cost of sales and labour costs of an informal and…

A: The abbreviations CP and SP stand for Cost Price and Selling Price, respectively. The cost price of…

Q: What is the nature of cost management and how beneficial it is for the business?

A: Introduction:   Cost management is the process of planning and controlling a business's running…

Q: Explain the difference between a product cost and a period cost. How does the product cost of a…

A: The cost that is linked to the product, i.e. the cost that can be traced back to the product and is…

Q: Administrative and Selling and Distribution costs. Provide advice to the company on what…

A: Depreciation expense is the deduction of the book value of the fixed asset over the useful life of…

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: Why is it important to know the true cost for a product or service?

A: True Cost and its importance The meaning of true cost is simple term is the the distinguish between…

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: Which of the following is not a reason for banks to use activity-based costing? a.to determine…

A: Activity based costing (ABC): Under activity based costing method, the activities responsible for…

Q: compare service concern from merchandising business as a far as the manner of generating income and…

A: Different types of business organizations includes manufacturing business, service business, and…

Q: Explain what cost behavious is and why it is important for business?  Explain what breakeven point…

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: Identify and discuss arguments that individual product managers may put forward to support their…

A: Preferred Revenue Allocation method is a revenue allocation method in which managers in charge of…

Q: Explain cost concepts it is relevant for the company to be aware of in decision situations such as.…

A: Here discuss about the details of the various costs which are incurred to the business entity which…

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

A:

Q: Choose the most appropriate answer(s): Calculation of product cost, gathering information for…

A: SOLUTION-   EXPLANATION- COST ACCOUNTING IS AN ACCOUNTING METHOD THAT AIMS TO CAPTURE A COMPANY'S…

Q: What is the purpose of Target Profit and why is it used in the Retail industry?

A: Targeted profit is the amount of profit that business executives expect to receive at the end of 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: 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: how important does the owner /manager believe cost information is the success of the business?

A: Cost accounting is an accounting system which provides information about all the costs incurred in…

Q: Answer of the following question related to these characteristics and constraints. A company should…

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: Activity Based Costing to report product costs in financial statements

A: Activity Based Costing is a costing method to allocate overheads to products or operations or jobs.

Q: Could tear-down methods be used effectively for target pricing in a service-industry company, such…

A:

Q: Which of the following marketing concepts believes that consumers will not buy enough of the…

A: The answer is Selling Concept

Q: Why is credit approval an important part of the revenue cycle? And Why should accountants…

A: A cycle indicating a set of business activities and its information processing operations that…

Q: What is the distinction between service and merchandisingcompanies?

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

Q: How do companies determine target costs?

A: Identify the selling price using the market competitor.

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.