21) For each of the characteristics below, identify whether it is a focus of financial accounting or managerial accounting. Use the letter F to identify financial accounting and M to identi managerial accounting. (7 points) 1. 2. Users are generally investors, creditors, analysts, and regulators. Used to assist managers in making planning and control decisions. Information is structured and controlled by GAAP Information is available quickly without the need to wait for an audit. Information is mainly historical with some predictions. + 5. Emphasis of the information is a company's projects, processes, and divisions. Information is mostly monetary, but includes nonmonetary information. 7. Classify each of the following items as a product cost or a period cost, by placing an X in the appropriate column. For each item that is a product cost, also indicate whether it is a direct or an indirect cost for the finished product. (15 points) Product or period cost? Product Period Direct or indirect cost Direct Indirec Administrative salaries Direct labor Advertising Property tax on the factory Factory maintenance Direct materials Depreciation on factory Interest expense Factory supplies