Identify whether each description most likely applies to managerial or financial accounting. 1. It focuses mainly on past results. 2. Reporting is relatively flexible and without GAAP constraints 3. Its primary users are outside of the organization. 4. It focuses on current performance and future projections. 5. Its primary users are company managers.

Exercise 19-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4 1. In the Raw Materials inventory T-account, insert amounts for beginning and ending baiances along with purchases and indirect materials used. Solve for direct materials used in the period. 2. Compute the cost of direct lebor used for the period 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct moterials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods maryfactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances tilong with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under-or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overthead costs, and applied overhesd. Solve for underapplied or overapplied overhead. Complete this question by entering your answers in the tabs below