One key difference appears when comparing the income statements of a manufacturing company to a merchandising company. What is that difference?

One key difference appears when comparing the income statements of a manufacturing company to a merchandising company. What is that difference? O Manufacturing companies use cost of goods manufactured and merchandising companies use cost of goods purchased. O Cost of goods sold equals the cost of merchandise purchased for a merchandising company, while cost of goods sold equals the cost of raw materials purchased for a manufacturing company. O Cost of goods manufactured is subtracted from sales to get gross profit on a manufacturing income statement, while cost of goods purchased is subtracted from sales to get gross profit on a merchandising income statement. O Manufacturing companies use work in process, raw materials, and finished goods inventory balances to calculate cost of goods sold, while merchandising companies use only merchandise inventory balances. A manufacturing company calculates cost of goods sold as follows: Ending FG inventory - cost of goods manufactured + beginning FG inventory. Beginning FG inventory + cost of goods manufactured - ending FG inventory. Beginning FG inventory + cost of goods purchased - ending FG inventory. Beginning FG inventory - cost of goods manufactured - ending FG inventory. a Dougan, Inc. allocates overhead based on a predetermined overhead rate of $2.40 per direct labor hour. Employees are paid $12.00 per hour. Job 24 requires 4.2 pounds of direct materials at a cost of $15.00 per pound. Employees worked a total of 17.5 hours to complete the job. Actual manufacturing overhead costs totaled $80,000 for the year for the company. How much is the cost of Job 24? O $273. O $105. O $315. O $777. Mandela Manufacturing thinks that the best activity base for its manufacturing overhead is machine hours. The estimate of annual overhead costs is $540,000. The company used 1,000 hours of processing for Job A15 during the period and incurred actual overhead costs of $580,000. The budgeted machine hours for the year totaled 20,000. What amount of manufacturing overhead should be applied to Job A15? O $29,000. O $540. O $580. O $27,000