chose one situation and discuss the following

The following situations describe scenarios that could use managerial accounting information: 1. The manager of a restaurant wants to determine the price to charge for various lunch plates. 2. By evaluating the cost of leftover materials, the plant manager of a precision tool facility wants to determine how effectively the plant is being run. 3. The division controller of a supply company needs to determine the cost of products left in inventory. 4. The manager of the Maintenance Department of a large manufacturing company wants to plan next year's anticipated expenditures. 5. A business that you know about or are employed with or that you may look to Choose one or more of the above situations and discuss the following: How is managerial accounting information used and why would it apply in the situations you choose from above? o How does direct material, direct labor, factory overhead and/or period costs such as selling and administrative come into play with your scenario chosen? Why is it important to consider these costs? Do you think using financials statements alone are good for making internal decisions to production processes? o If so discuss why or discuss what else may be needed for business operations to be profitable