1) Raynor Company has the following data: Direct labor $76,000 Direct materials used 84,000 Total manufacturing overhead 65,000 Ending work in process 30,000 Beginning work in process 45,000 Instructions Compute (a) total manufacturing costs and (b) cost of goods manufactured. (a) Total manufacturing costs $ (b) Cost of goods manufactured $ 2) Financial accounting information and managerial accounting information have a number of distinguishing characteristics. For each of the characteristics listed below, indicate which characteristics are more closely related to financial accounting by placing the letter "F" in the space to the left of the item and indicate those characteristics which are more closely associated with managerial accounting by placing the letter "M" to the left of the item. 1. General-purpose reports 2. Reports are used internally 3. Prepared in accordance with generally accepted accounting principles 4. Special purpose reports 5. Limited to historical cost data 6. Reporting standard is relevance to the decision to be made 7. Financial statements 8. Reports generally pertain to the business as a whole 9. Reports generally pertain to subunits