Identify each of the following a feature of managerial accounting (M) or financial accounting (F): 1-...

Identify each of the following a feature of managerial accounting (M) or financial accounting (F):

1- Information is prepared for external users and is historically based.

2- Information prepared must follow GAAP.

3- It is important that information is prepared timely and may contain estimates.

4- Information is prepared for internal users and may report on segments or divisions of the company.

5- The prepared financial statement analyze the company as a Whole.

2- Identify the following costs as product costs (PR) or SG&A/ period costs (SGA):

a) Salaries for staff in the legal department

b) Labor Costs for factory workers.

c) Utilities paid for the corporate headquarter offices.

d) Supplies Used by the company accountant.

f) Tools used to maintain the production equipment.

Expert Solution

ekkarill92 answered 7 months ago

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