Referencing Styles : Harvard You are required to finish each of these questions, total 40 marks. Please give the solutions in detail, show calculations and submit the solutions to Moodle using a single file, it can be Excel format, Word format or PDF format, no requirement on word limits, if use any references, please refer to Harvard style.Question 1: Differences between management accounting and financial accounting (15 Marks)You are the financial controller of a large manufacturing organization and intend to approach the … View More You are required to finish each of these questions, total 40 marks. Please give the solutions in detail, show calculations and submit the solutions to Moodle using a single file, it can be Excel format, Word format or PDF format, no requirement on word limits, if use any references, please refer to Harvard style. Question 1: Differences between management accounting and financial accounting (15 Marks) You are the financial controller of a large manufacturing organization and intend to approach the human resources (HR) manager seeking to create two new positions: a financial accountant and a management accountant. Required: 1 Prepare a briefing document for the HR manager which explains the differences between these two roles. 2 Formulate (and answer) the five likely questions that you anticipate the HR manager will ask you about these two positions when you meet. Question 2: Product cost classification: manufacturer (15 Marks) The following cost data for the current year relate to Heartstrings Pty Ltd, a greetings card manufacturer: Service department costs1 $ 50 000 Direct labour: wages 242 500 Direct labour: on-costs 47 500 Indirect labour: on-costs 15 000 On-costs for production supervisor 4 500 Administrative costs 75 000 Rental of office space for sales personnel2 7 500 Sales commissions 2 500 Product promotion costs 5 000 Direct material 1 050 000 Advertising expense 49 500 Depreciation on factory building 57 500 Cost of finished goods inventory at year end 57 500 Indirect labour: wages 70 000 Production supervisor’s salary 22 500 Total overtime premiums paid 27 500 Cost of idle time: production employees3 20 000 Required: Calculate each of the following costs for the year: 1 Total prime costs. 2 Total manufacturing overhead costs. 3 Total conversion costs. 4 Total product costs (for external reporting purposes). 5 Total period costs. ? Read Less