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Accountingverse

23/12/2020 Client: saad24vbs Deadline: 6 Hours

Production is the creation of utilities. A utility is something useful and can be either a tangible or an intangible product (service).


1. Describe the basic differences in marketing tangible from intangible products.


Also, think about your current/past employer (or any company of your choice). 2. Provide a brief overview of the company, including whether it is a service, retail, or manufacturing company. Identify some of the expenses that are incurred by the company and determine how each of these expenses would be classified using the terminology below.


3. Then discuss why these cost classifications are important in Managerial Accounting?






Terminology listed below for extra help-


Websites for terminology- https://www.accountingtools.com/articles/what-are-the-functions-of-managerial-accounting.html


 and what is Managerial Accounting? https://saylordotorg.github.io/text_managerial-accounting/s05-what-is-managerial-accounting.html




Cost Classifications-


 https://www.accountingtools.com/articles/cost-classification.html




Manufacturing and Nonmanufacturing-


 https://www.accountingverse.com/managerial-accounting/cost-concepts/manufacturing-and-nonmanufacturing.html




Prime cost and conversion-


 https://www.accountingverse.com/managerial-accounting/cost-concepts/prime-and-conversion.html




What is the difference between product cost and period cost-


 https://www.accountingcoach.com/blog/product-cost-period-cost




Please be sure to validate your opinions and ideas with intext citations and references in APA format.

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