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

Q: Inventoriable costs:     include administrative and marketing costs     are particularly useful in…

A: Inventoriable costs: These include all the expenses that are directly related to the manufacturing…

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 the difference between service company and manufacturing company.

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

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

A: The operating cycle of merchandising and the service business will be explained :

Q: Describe how the inventory accounts of a manufacturing company differ from the inventoryaccount of a…

A: The manufacturing company maintains three inventory accounts; these are raw material inventory…

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: Purchase​ discounts, freight in and receiving costs   A. are used when setting a cost standard for…

A: Purchase discounts, freight in, and receiving costs are considered as part of the cost of the…

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: I. The Cost of Goods Sold of a Merchandising company will include cost of Materials, Labor and…

A: Merchandising company is a company which is engaged in purchase and sale of readymade products. They…

Q: In the income statement of a manufacturing company, what replaces purchases in the cost of goods…

A: It is pertinent to note that in trading business an entity buys goods from the one-party and sells…

Q: Which of the following costs would be included on an income statement for both a merchandising…

A: Merchandising concern - This entity deals with buying and selling inventory from the supplier to the…

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

A: Manufacturing business are those type of business which are indulged in production of goods in the…

Q: A manufacturing company's income statement and balance sheet vary from a merchandising company's…

A: The income statement and balance sheet of a manufacturing firm are different from a retailing…

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

A: A service business seems to be a firm that offers professional services to its customers. The…

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

A: Statement of profit or loss is a statement which records revenue earned by the company during 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: 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: In what way does a typical manufacturing business differ from a merchandising concern? in what ways…

A: Manufacturing business means when a company makes finished products by use of raw materials and then…

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: One key difference appears when comparing the income statements of a manufacturing company to a…

A: Income statement: The income statement is one of the three primary financial statements used to…

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 cost of goods sold, how to calculate cost of goods sold for manufacturing, merchandising and…

A: 1.Cost of goods sold : it the the cost incurred or value of  goods which are sold.   2 Calculation…

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

A:

Q: what is the cost of goods available for sale

A: The cost of goods available for sale is the sum of beginning inventory and the goods produced during…

Q: When trying to identify product and period costs, is cash, work inprocess, and raw materials…

A: Product cost:The product cost relates to the manufacturing costs such as direct material, direct…

Q: How much is the cost of goods manufactured in department B?

A:

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: 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: What is the most important difference between a manufacturing firm and a service industry firm, with…

A: Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare the…

Q: Which of the following is the main objectives of cost accounting? a. Maintenance of machinery b.…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

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: Why is the normal operating cycle for a merchandising company likely to be longer than for a service…

A: A merchandising company only deals with purchase and sales of products. It buys products from other…

Q: Describe a merchandising company's operational cycle.

A: The Answer:

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: What factors other than the number of units shipped are likely to affect the company shipping…

A: Shipping expense:   It refers too the cost of postage and related transportation to move the package…

Q: How is the concept of product costing applied in service industry firms?

A: product costing: It is the method of allocating direct and indirect costs to units of products…