How would a business plan for a small manufacturing firm differ from one for a small retailing firm? compare and contrast them

Q: Explain how ABC can help a firm identify its true low-cost suppliers. Illustrate with some

A: Solution- Process costing is a method of cost accounting that is used to determine the cost of…

Q: w could MIN() and MAX()In excell benefit a small business?  Create an example where knowing such…

A: Min and Max are two excel formulas used to determine the Minimum and maximum value from the lot…

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: 1. "The steps in the accounting cycle for a merchandising company are different from the accounting…

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: Write a research on the Income Statement of a Merchandising Company.

A: Merchandising Company In a simple word the word Merchandising which describes as buy the goods and…

Q: Distinguish between manufacturing-, merchandising-, and service-sector companies?

A: Manufacturing companies are the  ones which procure raw materials and carry out manufacturing…

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: Would the Wegmans approach work for a car dealer? Abookstore? A manufacturer of industrial goods?…

A: The question is based on the concept of Wegmens approach of business philosophy, the approach…

Q: What are two common entry-level accounting software systems used by small businesses?

A: Entry-level software Entry-level software is computerized accounting software that helps the…

Q: Why is it sometimes misleading to compare a company's financial rations with those of other firms…

A: A method is used to evaluate operational efficiency, liquidity, and profitability of the business by…

Q: Which of the following refers to the relative combination of products being sold by a firm? Group of…

A: Relative combination of products being sold by a firm is also known as Sales Mix As sales mix is a…

Q: List and discuss some possible investment vehicles for a small company owner

A: The possibility that the actual outcome may differ from the expected result is referred to as risk.…

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 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 the difference between the selling price,cost of sales and labour costs of an informal and…

A: The abbreviations CP and SP stand for Cost Price and Selling Price, respectively. The cost price of…

Q: Explain the differences in managerial and financial accounting for a clothing retailer.  Please…

A: The management accounting is generally created for a firm's internal audience, whereas financial…

Q: What is the distinctionbetween retail and wholesale merchandising companies?

A: The Distinction between Merchandising and Manufacturing Companies are given below as,

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: Which income statement is most appropriate for a manufacturing business

A: >Income Statement can be prepared as a:--#1: Single Step Income Statement, or--#2: Multi Step…

Q: How has the move to producing standard furniture affected the com-pany’s financial structure?

A: Accounting & Finance of company not showing the profits what they should be.  The investments of…

Q: How do commercial businsses support the work of industrial business

A: Gaining profits is a primary motive for trading businesses mostly which can be treated as commercial…

Q: A business that is just starting out and is uncertain about what the sales levels will be would…

A: Fixed cost is the cost that does not change with the change in the output. Whereas, variable cost…

Q: Explain how the activities and costs differ between these two a brick-and-mortar business and an…

A: Brick and mortar” refers to a business that has at least one physical location that customers can…

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: Required: Describe what this information indicates about the differences in approach between the two…

A: Personal services mean to focuses on the benefits of the company. These services include a higher…

Q: the differences between service business and merchandising business?

A: Merchandise business is a kind of business wherein revenues are earned by providing or selling goods…

Q: the specific parts of a business plan will vary, depending on the goods or services the firm is…

A: A business plan is a document in writing that elaborates how a start-up company derives its…

Q: Why are the customer perspective measures important when a company is doing financially well?

A: Customer perspective measures: It refers to the measures which are considered while viewing the…

Q: Why is managerial accounting relevant to business majors and their future careers?

A: Accounting has its two branches; managerial accounting and financial accounting. Managerial…

Q: 1. Performance review of a business must compare against A. the performance of a similar business…

A: Performance review is nothing but a comparison of the business performance with an appropriate…

Q: Explain how manufacturers can know (a) how many products to make, and (b) how many products to sell…

A: Explain how manufacturers can know Required  (a) how many products to make, and (b) how many…

Q: Which of the following statements is true? I.   A packaging department is most likely a cost…

A: Cost center is a separate cost object or department in the organisation which generates costs only.…

Q: What challenges does Blu Dot face in selling consumer products (as opposed to business products)?

A: Consumer products, often called as final goods, are objects bought for personal use by individuals…

Q: They are going to start a manufacturing company and need help deciding what entity type to choose to…

A: The different types of business entities prevent in an economy are(a)    Sole Proprietorship(b)…

Q: How can accounting consultants or auditors minimize the cost of doing business? How is this…

A: SOLUTIONS- ACCOUNTING CONSULTANTS ADVISES BUSINESSES ON FINANCIAL DECISION AND THEIR ACCOUNTING…