Question 1 (5 Marks) \begin{tabular}{l|l} NO. & Question \\ \hline 1 & Managerial accounting reports can be described as \\ \hline \end{tabular} A. general-purpose. B. macro-reports. C. special-purpose. D. classified financial statements. A distinguishing feature of managerial accounting is A. external users. B. general-purpose reports. C. very detailed reports. D. quarterly and annual reports. The product cost that is most difficult to associate with a product is A. direct materials. B. direct labor. C. advertising. D. manufacturing overhead. Which one of the following is an example of a period cost? A. A change in benefits for the union workers who work in the New York factory of a fortune 1000 manufacturer B. Workers' compensation insurance on factory workers' wages allocated to the factory C. A microchip cost associated with computers D. A manager's salary for work that is done in the corporate head office A manufacturing company calculates cost of goods sold as follows: A. Beginning FG inventory + cost of goods manufactured - ending FG inventory. B. Beginning FG inventory + cost of goods purchased - ending FG inventory. C. Ending FG inventory - cost of goods manufactured + beginning FG inventory. D. Beginning FG inventory - cost of goods manufactured - ending FG inventory