Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Explain the major differences between Financial and Managerial accounting? (3pts) 2. Is one type of accounting more important than the other? Explain. (3pts)
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 rolerblades manufacturing plant, state whether it would be considered: (1) a period cost of a product cost and (21arita product cost, then state whether it would be classifed as: direct materials, direct labor or manudacturing overhead: (1pt each: 9 pts tota) Example: Salaries of janitors in the factory Answer Product cost, mfg overhead a. Wheels and skate boots b. Salaries of rollertlade assemblers C. Accounting manager salary d. Rent on the production facility e. Oll and glue used on the rollerblades 1. Depreciation on corporate office equipment (not used ien tactory) E Salaries of supervisors over the production facility Human Resources department salaries 1 Salaries of ipping department workers
Step by Step Solution
★★★★★
3.45 Rating (148 Votes )
There are 3 Steps involved in it
Step: 1
Answer Answer 1 Financial Accounting Managerial Accounting 1User of the Financial Accounting is a Ex...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started