What is the distinction between service and merchandisingcompanies?

Q: How does a service company calculate unit cost per service?

A: Unit service cost refers to the cost that is incurred for providing the service. It is a concept…

Q: How is the cost of goods sold calculated?

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 differences between financial statements of a manufacturing and a merchandising…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: What are the inventory accounts used in JIT costing?

A: JIT (Just-In-Time) inventory system is usually implemented in an organization to reduce the amount…

Q: What are some tactical and strategic retail customer considerations?

A: Strategic management or business management is the science, art, and craft of preparing,…

Q: What is the link that connects the schedule of cost of goods manufactured to the schedule of cost of…

A: Schedule of Cost of goods manufactured:   Cost of goods manufactured can be defined as the total…

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

A: Value Chain:

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: 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: What is the Cost of goods sold equation?

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

Q: How do I solve for the Cost Of Goods Sold?

A: Cost of goods sold is actual cost of goods that are being sold by the seller to the customers. This…

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: How does a merchandising company calculate unit cost per item?

A: A Merchandising company is a type of company  who purchases goods from one company and sells the…

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: What is the decision rule for selling a product as is or processing it further?

A: Definition:   Differential analysis: Differential analysis refers to the analysis of differential…

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: Describe merchandising activities and identify income components for a merchandising company

A: merchandising activities Merchandising activities involve buying goods or products from the…

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: 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: What distinguishes a merchandising business from a service business?

A: Merchandising Company and Service Company: A merchandising company generates income by selling goods…

Q: What is Cost of Goods Sold (COGS), and where is it reported?

A: Merchandise Business: Merchandise business refers to the business of buying goods from the…

Q: What is the role of Finished-goods inventory?

A: Stock is the term used for the products that are ready for sale and raw materials used to create…

Q: What is the primary distinction between a service company and a manufacturing or merchandising…

A:

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: 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: 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: 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: 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: What is cost of goods sold? Explain?

A: Cost of goods sold is the accumulated total amount of all the direct costs incurred in manufacturing…

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

A:

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: 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: Who are Self-service retailers?

A: Retailers: A retailer is an entity that sells merchandise like consumer goods, groceries, or cars…

Q: What is a customer preference map, and why is it useful?

A: Customer value: Customer value is simply what value a customer gets. By formula, it’s the difference…

Q: What amount should be reported as cost of goods manufactured?

A: Cost of Goods Manufactured :— It is the total cost incurred during manufacturing of the finished…

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

A: Merchandising firms, also called merchandising companies, are more commonly known as retail…

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: Understand the components of a merchandising company’s income statement.

A: Preparations of income statements help the merchandise company to know how much gross profit or net…

Q: The flow of goods and services to consumers is illustrated by

A: Relationship of Goods and Service price with Consumer  Supply Chain of goods and Service from…