18) Define variable cost, fixed cost, and mixed cost. ESSAY. Write your answer in the space provided or on a separate sheet of paper. 19) For each of the characteristics below, identify whether it is a focus of financial accounting or managerial accounting. Use the letter F to identify financial accounting and M to identify managerial accounting. 1. Users are generally investors, creditors, analysts, and regulators. 2. Used to assist managers in making planning and control decisions. 3. Information is structured and controlled by GAAP. 4. Information is available quickly without the need to wait for an audit. 5. Information is mainly historical with some predictions. 6. Emphasis of the information is a company's projects, processes, and divisions. 7. Information is mostly monetary, but includes nonmonetary information