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IL Question 25 Not yet answered Marked out of 0.50 Flas Question Which one of the following statements is not correct regarding financial accounting and management accounting? O a Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which fo h focus on the consequences of past activities of the organization O b. None of the given answers OC Financial accounting needs to follow specific set of rules called accounting standards unlike management accounting od Only financial accounting involves the use of accounting information. Ce Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited Question 26 Not yet answered Marked out of 0.80 P Flas Question A Company uses job order costing and has chosen direct labor hours to allocate its manufacturing overhead. The company estimates that total direct labor hours to be operated next year are 300.000 hours. The estimated variable overhead is $10 per hour and the estimated fixed overhead costs are $500,000. The predetermined overhead rate is: O a $7 O b. $1.67 OC $11.67 Od. None of the answers given Oe. $16.67