1. List the two general purposes for Managerial Accounting. 2. What is the purpose of information in Managerial Accounting? 3. Costs can be ciassified in what five ways? 4. Which of the following is a fixed cost for a lawnmower manufacturer? a. Rent an a warehouse for the coming year of $50,000. b. Labor cost to build lawnmowers only incurred if lawnmowers are built. c. Cost of paint for lawnmowers. d. Cost of tires for lawnmowers. 5. Which of the following is a variable cost for a lawnmower manufacturer? a. Insurance on the factory for the coming year of $42,000. b. Cost of paint for lawnmowers. c. Straight-line depreciation costs for the factory equipment. d. Salary of human resources manager. 6. In question #5 which of the answers (a-d) is a direct cost to the cost object lawnmowers? 7. In question 15 how would the salary of the human resources manager be classified in terms of traceability to the cost object lawnmowers? 8. When are classifications of costs by controllability especially useful? 9. Which of the following is relevant to future decision making? a. Sunk costs. b. Out-of-pocket costs. 10. What are the three costs included in product costs? 11. Define direct materials.