Cost and Managerial Accounting - D101
WGU Exam 2026 Questions and Answers
Graded A+
A manufacturing company used cash to purchase raw materials costing $3,000.
What should be included in the journal entry necessary to record this purchase of
raw materials?
Credit to work-in-process inventory for $3,000.
Credit to raw materials inventory for $3,000.
Credit to accounts payable for $3,000.
Credit to cash for $3,000. - Correct answer-Credit to cash for $3,000.
A company's actual manufacturing overhead was $156,000, and applied
manufacturing overhead was $172,000.
What should be included in the journal entry necessary to close the manufacturing
overhead account?
Debit to manufacturing overhead for $16,000.
,Debit to cost of goods sold for $16,000.
Debit to cost of goods sold for $156,000.
Debit to manufacturing overhead for $156,000. - Correct answer-Debit to
manufacturing overhead for $16,000
A company that manufactures wood furniture paid $12,500 in cash for the wages
of woodworkers who create the wood furniture in the factory.
What should be included in the journal entry necessary to record this payment of
wages to the woodworkers?
Credit to work-in-process inventory for $12,500.
Debit to work-in-process inventory for $12,500.
Credit to manufacturing overhead for $12,500.
Debit to manufacturing overhead for $12,500. - Correct answer-Debit to work-in-
process inventory for $12,500.
Data for an art supplies company for the year are as follows:
Finished goods inventory, beginning balance
$300,000
Work-in-process inventory, ending balance
, 215,000
Underapplied manufacturing overhead
40,000
Finished goods inventory, ending balance
250,000
Work-in-process inventory, beginning balance
200,000
Cost of goods manufactured
685,000
What is the company's computed adjusted cost of goods sold?
$630,000
$710,000
$715,000
$775,000 - Correct answer-$775,000
What is true about debits in the work-in-process T-account during the period?
They are costs of goods manufactured during the period.
WGU Exam 2026 Questions and Answers
Graded A+
A manufacturing company used cash to purchase raw materials costing $3,000.
What should be included in the journal entry necessary to record this purchase of
raw materials?
Credit to work-in-process inventory for $3,000.
Credit to raw materials inventory for $3,000.
Credit to accounts payable for $3,000.
Credit to cash for $3,000. - Correct answer-Credit to cash for $3,000.
A company's actual manufacturing overhead was $156,000, and applied
manufacturing overhead was $172,000.
What should be included in the journal entry necessary to close the manufacturing
overhead account?
Debit to manufacturing overhead for $16,000.
,Debit to cost of goods sold for $16,000.
Debit to cost of goods sold for $156,000.
Debit to manufacturing overhead for $156,000. - Correct answer-Debit to
manufacturing overhead for $16,000
A company that manufactures wood furniture paid $12,500 in cash for the wages
of woodworkers who create the wood furniture in the factory.
What should be included in the journal entry necessary to record this payment of
wages to the woodworkers?
Credit to work-in-process inventory for $12,500.
Debit to work-in-process inventory for $12,500.
Credit to manufacturing overhead for $12,500.
Debit to manufacturing overhead for $12,500. - Correct answer-Debit to work-in-
process inventory for $12,500.
Data for an art supplies company for the year are as follows:
Finished goods inventory, beginning balance
$300,000
Work-in-process inventory, ending balance
, 215,000
Underapplied manufacturing overhead
40,000
Finished goods inventory, ending balance
250,000
Work-in-process inventory, beginning balance
200,000
Cost of goods manufactured
685,000
What is the company's computed adjusted cost of goods sold?
$630,000
$710,000
$715,000
$775,000 - Correct answer-$775,000
What is true about debits in the work-in-process T-account during the period?
They are costs of goods manufactured during the period.
