Answer the ques in breif and simple

What are the major differences between managerial and financial accounting? Identify the three elements of cost incurred in manufacturing a product and indicate the distinguishing characteristics of each. Why might a company claim that the total cost of employing a person is $15.30 per hour when the employee's wage rate is $10.50 per hour? How should this difference be classified and why? A Why are certain costs referred to as period costs? What are the major types of period costs incurred by a manufacturer? > Explain why the income statement of a manufacturing company differs from the income statement of a merchandising company