CH 18 - Please respond to the following question(s) with a thoughtful response. Be sure to support your answer with reason and logic based upon this week's readings, but keep in mind that top scores should include insight/creativity beyond the book. If you use resources beyond our textbook, sources must be cited. For additional information on the grading criteria, please review the "Getting Started document. Your final assignment must be submitted as a Word doc or pdf file. 1. Explain the major differences between Financial and Managerial accounting? (3pts) 2. Is one type of accounting more important than the other? Explain. (3pts) 3. For each of the following costs in a rollerblades manufacturing plant, state whether it would be considered: (1) a period cost or a product cost; and (2) if it's a product cost, then state whether it would be classified as direct materials, direct labor or manufacturing overhead: (1 pt each 9 pts total Example: Salaries of janitors in the factory Answer: Product cost; mis overhead a. Wheels and skate boots b. Salaries of rollerblade assemblers c. Accounting manager salary d. Rent on the production facility e. Oil and glue used on the rollerblades f. Depreciation on corporate office equipment (not used in factory) B. Salaries of supervisors over the production facility h. Human Resources department salaries 1. Salaries of shipping department workers