Distinguish between service and merchandising operations.

Q: Please explain with examples briefly benefits of accounting system for manual cost accounting?

A: Cost accounting: It is a branch of managerial accounting that focuses on calculation of total cost…

Q: Define inventory costing system.

A: Inventory cost flow assumptions: These are the methods used by the companies to compute the cost…

Q: Requirements: fill up the question marks and find out the cost of goods manufactured.

A: Cost of goods manufactured can be defined as the total cost being accumulated over the goods beings…

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: Explain in detail how a manufacturing company calculates Cost of Goods Manufactured and Cost of…

A: Manufacturing companies are those companies which are engaged in conversion of raw material into…

Q: Define product cost

A: Direct costs is referred to as the cost which can be traceable to a product directly. Example,…

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

A: Value Chain:

Q: How to deal with cost accounting

A: Cost accounting refers to the accounting which dealt with the aggregate cost of production of…

Q: Discuss the role of conversion cycle for service and retailing entities

A: Transaction Cycles: The similar transactions of an organization are grouped together to form a…

Q: Define the term service company.

A: A service company is a business that generates income by providing services instead of selling…

Q: Define and explain the concept of cost accounting.

A: Introduction: An essential fee accounting device operates in real-time by monitoring raw materials…

Q: Define cost of goods sold.

A: Cost:   It refers to the sum total of economic value to get an asset in place and ready for use.

Q: Define Work-in-process inventory.

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

Q: Are activity-based costing systems appropriate for the service industry? Explain.

A:

Q: Product Type relation with Attendance endance

A: 1. type of event Pivot Table Hence Highest average attendance is for Concert Type of Event Question…

Q: What are ordering costs? What are setup costs? What are carrying costs? Provide examples of each…

A: Cost is the amount incurred on buying an item of getting a job done. There are various types of cost…

Q: how to find cost of goods sold

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

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: What is the flow of inventoriable and periodcosts in manufacturing and merchandisingsettings?

A: Inventoriable costs: It is the costs of inventory hold by the business. It is shown as asset until…

Q: Identify the correct statement with respect to manufacturing and merchandising companies in general…

A: A merchandising firm is one of the most common types of business. A sales firm is a business that…

Q: Calculate the order quantity that would minimize the cost of item

A: Only the first part is solved, since only that is specified to be solved.

Q: How standard costing control the business activity

A: Standard Costing is the technique of setting up standard costs and applying them to measure the…

Q: Define Product costs.

A: Product costs refers to cost which is incurred for creation of product.

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

A:

Q: What types of management reports are prepared by the cost accounting system?

A: Definition: Cost accounting systems: It is a system which measures, record, and reports the product…

Q: What are the essential factors for installing a cost accounting system? Explain

A: A cost accounting system is a system of…

Q: Explain the purpose of product costing.

A: Product costing: The process of assigning the production costs to all output of the organization is…

Q: Describe a service company, and give an example.

A: Business organization: Business organization refers to the structure of business that the structure…

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: What is cost accounting system and operational control system?

A: Introduction: Cost accounting is the reporting and assessment of a company's cost structure. The…

Q: Cost accountancy

A: Cost accountancy is the application of cost accounting principles, methods and techniques to…

Q: Distinguish between the qualities and aims of cost accounting, as well as between the nature and…

A: The question deals with the qualities and aims of cost accounting, as well as between the nature and…

Q: Explain Consumer Behaviour and  Costs.

A: Behaviour is the way in which one acts or conducts oneself, especially towards others.

Q: Compute cost of goods manufactured.

A: Statement of Cost of Goods Manufactured:   Cost of goods manufactured can be defined as the total…

Q: When would slicing and dicing be an appropriate OLAP tool? Give an example of inventory

A: OLAP means Online Analytical Processing. It includes decision support, modeling, information…

Q: Explain the ethical considerations to be taken care of while maintaining cost records.

A: Ethics of professional accountant:   This is a set of principles that an accountant follow to…

Q: e category you put cost accounting, inventory management and budgeting?

A: Accounting is called the process of compiling and checking all the transactions of a company in…

Q: Explain the features of cost accounting.

A: Cost accounting is a branch of accounting in which all the costs involved in manufacturing of a…

Q: What is the distinction between service and merchandisingcompanies?

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