Explain Operating Cycle of a Typical Merchandising or Manufacturing Company.

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

A:

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: 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: Describe what is meant by an operating cycle for a typical manufacturing company.

A: Step 1 The manufacturing company refers to a company that involves the process of converting raw…

Q: which of the following is a product cost for a manufacturing company : a- insurance on the…

A: Product cost includes all the costs involved to create a product i.e direct material, direct labour…

Q: Match each of the following types of companies with its definition. Types of Companies…

A: Service companies are the Business that provide services instead of Physical goods. Match is :…

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: Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be…

A: Direct Material Cost Direct material cost is the cost of the raw materials and components used to…

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: A schedule of the cost of finished goods manufactured is a helpful tool in determining the per-unit…

A: Explain several ways in which information about per-unit manufacturing costs is used by (a)…

Q: For a manufacturing business, products that are in the process of being manufactured are referred to…

A: Work-in-Process Inventory:-These are those inventory that is partially completed in the production…

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: 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 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 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 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: 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: 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: 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: Each of the following cost items pertains to one of these​ companies: Home Depot​ (a…

A: There are two different sectors in the economy. These are: 1. Service sector 2. Merchandising sector…

Q: Which of the following costs is most likely to be directly traceable to a specific department in a…

A: The correct answer is Option “C”

Q: Which of the following would be a service department for a furniture manufacturer?     A. Assembly…

A: A manufacturing firm may have different segments or departments performing different functions. Some…

Q: Which of the following companies is going to have three different types of inventory reported on…

A: Inventories - Inventories are the units that are not sold and has some selling value. Company's…

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: How does the Cost of goods sold section of the income statement differ between merchandising and…

A:

Q: Indicate whether the following costs of Procter & Gamble (PG), a maker of consumer products, would…

A: Direct Material costs- Costs incurred to procure materials that are directly consumed in 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: Salaries and commissions of company salesperson * Product Cost Period Cost

A: Introduction: Product cost: Cost which is directly related to manufacturing of a product called as…

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

A: Manufacturing is the process of converting the raw material into finished goods and it includes cost…

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: 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: 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:-…

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.