Question

The primary difference between cost classification for a manufacturing firm versus a merchandising firm is All...

The primary difference between cost classification for a manufacturing firm versus a merchandising firm is

All costs for a merchandising firm are downstream costs for a manufacturing firm.

All downstream costs for a merchandising firm are midstream costs for a manufacturing firm.

All midstream costs for a merchandising firm are upstream cost for a manufacturing firm.

All costs for a manufacturing firm are midstream costs for a merchandising firm.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Difference(s) in a merchandising concern's budget compared to a manufacturing firm is (are): 1.Merchandising concerns have...
Difference(s) in a merchandising concern's budget compared to a manufacturing firm is (are): 1.Merchandising concerns have period cost only. 2.The cost of goods sold for a merchandising concern is based on fixed costs only. 3.The cost of goods sold for a merchandising concern is based on variable costs only. 4.Manufacturing firms have product costs only.
Drilling Company uses activity-based costing and provides this information: Manufacturing Activity Cost Driver Driver Rate Materials...
Drilling Company uses activity-based costing and provides this information: Manufacturing Activity Cost Driver Driver Rate Materials handling Number of parts $ 0.3 Machinery Number of machine hours 56 Assembly Number of parts 3.10 Inspection Number of finished units 35 Drilling has just completed 85 units of a component for a customer. Each unit required 105 parts and 3.25 machine hours. The prime cost is $1,350 per finished unit. All other manufacturing costs are classified as manufacturing overhead. Required: 1. Compute...
Drilling Company uses activity-based costing and provides this information: Manufacturing Activity Cost Driver Driver Rate Materials...
Drilling Company uses activity-based costing and provides this information: Manufacturing Activity Cost Driver Driver Rate Materials handling Number of parts $ 0.60 Machinery Number of machine hours 51.00 Assembly Number of parts 2.85 Inspection Number of finished units 30.00 Drilling has just completed 80 units of a component for a customer. Each unit required 100 parts and 3 machine hours. The prime cost is $1,300 per finished unit. All other manufacturing costs are classified as manufacturing overhead. Required: 1. Compute...
Describe the differences between merchandising and manufacturing  companies  with  regards  to  inventory the  calculation of  cost of goods sold. ?
Describe the differences between merchandising and manufacturing  companies  with  regards  to  inventory the  calculation of  cost of goods sold. ?
1.what is the difference between a period and a product cost? 2.What is the difference between...
1.what is the difference between a period and a product cost? 2.What is the difference between a fixed cost and a variable cost? 3.What is the definition of the relevant range? 4.What are the 3 costs that are considered to be product costs? 5.How do fixed and variable costs behave within the relevant range? 6.How do we calculate the pre-determined over head rate? 7.What is the pre-determined rate used for ? 8.What is the difference between over and under applied?...
1.Which of the following is considered a difference between a job order cost and a process...
1.Which of the following is considered a difference between a job order cost and a process cost system? a.The manufacturing cost elements. b.Documents used to track costs. c.The accumulation of the costs of materials, labor, and overhead. d.The flow of costs. 2.In a manufacturing company, the cost of factory labor consists of all of the following except a.net earnings of factory workers. b.employer payroll taxes. c.fringe benefits incurred by the employer. d.gross earnings of factory workers. 3.The basic similarities between...
What is th difference between how economists calculate "costs" versus how accountants calculate "costs"? This is...
What is th difference between how economists calculate "costs" versus how accountants calculate "costs"? This is not a long essay - be concise and focus on the main point.
Hamwey​, Inc., a manufacturer of plastic​ products, reports the following manufacturing costs and account analysis classification...
Hamwey​, Inc., a manufacturer of plastic​ products, reports the following manufacturing costs and account analysis classification for the year ended December​ 31, 2014. Account Classification Amount Direct materials All variable $271,250 Direct manufacturing labor All variable 193,750 Power All variable 19,375 Supervision labor 25% variable 31,000 Materials-handling labor 60% variable 62,000 Maintenance labor 50% variable 69,750 Depreciation 0% variable 95,000 Rent, property taxes, and administration 0% variable 115,000 Hamwey, Inc., produced 77,500 units of product in 2014. Hamwey​'s management is...
Virginia Company, a merchandising firm, operated 5 sales offices last year at a total cost of...
Virginia Company, a merchandising firm, operated 5 sales offices last year at a total cost of $610,000, of which $81,000 represented fixed costs. Virginia has determined that total costs are significantly influenced by the number of sales offices operated. Last year's costs and number of sales offices can be used as the basis for predicting annual costs. What would be the budgeted cost for the coming year if Virginia were to operate 7 sales offices? (CPA adapted) Adair Credit, Inc....
Check all that are true about the difference between the internal (i.e., managerial) and external (i.e.,...
Check all that are true about the difference between the internal (i.e., managerial) and external (i.e., financial) versions of an organization's income statement. () Variable non-manufacturing costs are deducted from gross margin and not from contribution margin. () Variable non-manufacturing costs are deducted from contribution margin and not from gross margin. () Fixed manufacturing costs are deducted from contribution margin and not from gross margin. () Variable manufacturing costs are deducted from gross margin and not from contribution margin.