The company should include service revenue on the income statement as gross increase in stockholders' equity.
Service revenue refers to the operating revenue account and it includes all the works that have been fully executed.
<span>Process costs are costs that limit the occurrence of defects and imperfections. Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. ... It is a method of assigning costs to units of production in companies producing large quantities of homogeneous products.</span>
Give the impression of value to the product before lowering it. The price skimming strategy works by introducing the product at a very high initial price to give the consumers the impression of high value. The sellers will then lower it down slowly over time to give the consumers the impression that they are lowering the price of a very high value product and therefore giving them a good bargain.
He invented various glass.