Kimmel, Accounting, Ge Help I System Announcements ES Do it! Review 14-1 Indicate whether the following statements are true or false. 1. Managerial accounting reports focus on manufacturing and nonmanufacturing costs, but are also used in the budget process 2. Financial accounting reports pertain to subunits of the business and are very detailed 3. Managerial accountihig reports must follow GAAP and are audited by CPAS 4. Managers' activities and responsibilities can be classified into three broad functions: reports must follow GAAP and are audited by CPAS planning, directing, and controilling Click if you would like to Show Work for this question: Open Show Work Questic da 23 4 5 6 8 Exercise 14-2 is a list of costs and expenses usually incurred by Barnum Corporation, a manufacturer of furniture, in its factory Classify the below i items into the following categories: (a) direct materials, (b) direct labor, and (c) manufacturing overhead. Item Category 1. Salaries for assembly line inspectors 2. Insurance on factory machines 3. Property taxes on the factory building 4 Factory repairs. S. Upholstery used in manufacturing funiture. 6. Wages paid to assembly line workers 7. Factory machinery depreciation. 8. Glue, nails, paint, and other small parts used in production. 9. Factory supervisors' salaries. 10. Wood used in manufacturing furniture Click if you would like to Show Work for this questions Open Show work Question Attem 3 4 5 6 9 0