Question 1 1.7 pts Which of the following statements is true of managerial accounting? Managerial accounting provides information to the external stakeholders of the company. O Managerial accounting is required to be reported annually, also may be reported monthly or quarterly. O Reporting under managerial accounting is constrained by rules such as generally accepted accounting principles. Managerial accounting is primarily concerned with generating information for use by managers. Question 2 1.66 pts The cost of wages paid to employees directly involved in the manufacturing process of converting materials into finished product is classified as: wages expense. O direct materials cost. O direct labor cost. factory overhead cost