Identify whether each description most likely applies to managerial or financial accounting 1 It contains mostly monetary information, and some nonmonetary information Financial accounting 2 Its information is often available only after an audit is complete Financial accounting 3 Its primary focus is on the organization as a whole Financial accounting 4 Its principles and practices are relatively flexible Managerial accounting 5 It focuses mainly on past results Financial accounting Diez Company produces sporting equipment, including leather footballs Assume that the cost object is a football Classify each of the following costs as direct or indirect 1 Salary of manager who supervises the entire plant Indirect cost 2 Depreciation on factory building Indirect cost 3 Depreciation on maintenance equipment used in the plant Indirect cost 4 Leather used to produce footballs Direct cost 5 Laces to hold football products together Indirect cost A company manufactures tennis balls Classify each of the following costs as either direct materials, direct labor, or factory overhead 1 Factory maintenance Factory overhead 2 Factory manager's salary Factory overhead 3 Indirect materials used in making goods Factory overhead 4 Felt covering of tennis ball Direct materials 5 Factory insurance used up Factory overhead 6 Wages paid to assembly workers Direct labor

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Question: Identify whether each description most likely applies to managerial or financial accounting. 1. It contains mostly monetary information, and some nonmonetary information. Financial accounting 2.

Identify whether each description most likely applies to managerial or financial accounting.

1. It contains mostly monetary information, and some nonmonetary information.	Financial accounting
2. Its information is often available only after an audit is complete.	Financial accounting
3. Its primary focus is on the organization as a whole.	Financial accounting
4. Its principles and practices are relatively flexible.	Managerial accounting
5. It focuses mainly on past results.	Financial accounting

Diez Company produces sporting equipment, including leather footballs. Assume that the cost object is a football. Classify each of the following costs as direct or indirect.

1. Salary of manager who supervises the entire plant.	Indirect cost
2. Depreciation on factory building.	Indirect cost
3. Depreciation on maintenance equipment used in the plant.	Indirect cost
4. Leather used to produce footballs.	Direct cost
5. Laces to hold football products together.	Indirect cost

A company manufactures tennis balls. Classify each of the following costs as either direct materials, direct labor, or factory overhead.

1. Factory maintenance.	Factory overhead
2. Factory manager's salary.	Factory overhead
3. Indirect materials used in making goods.	Factory overhead
4. Felt covering of tennis ball.	Direct materials
5. Factory insurance used up.	Factory overhead
6. Wages paid to assembly workers.	Direct labor

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