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COACHING REPORT – Pre-Assessment: Cost and
Managerial Accounting (WFC1) (PWFC)
Attempt 1 – March 21, 2019 Print View
Competencies and Topics Assessment Score
Preparing a Master Budget and Flexible Budget Suggested Study Review
54.
What are two advantages of budgeting?
Choose 2 answers
YOUR CORRECT
ANSWER ANSWER
It helps coordinate customer activities.
It forces managers to think about and record the past.
It helps to ensure everyone in the organization is pulling
in the same direction.
It defines goals and objectives that serve as benchmarks
for evaluating subsequent performance.
Less
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55.
It is January 1 of Year 2. Company sales for January, February, and March are
forecasted as follows:
January: $20,000
February: $40,000
March: $50,000
Seventy percent of sales are credit sales, and the remaining 30% of sales are cash
sales. Of these credit sales, 40% are collected during the month of sale, 50% in the
following month, 5% in the second following month, and 5% are never collected.
Total sales for November and December of Year 1 were $20,000 and $40,000,
respectively.
What is the expected amount of total cash collections from sales in January?
YOUR CORRECT
ANSWER ANSWER
$20,300
$26,300
$27,000
$29,000
Less
56.
On September 30 of Year 1, a company had finished goods inventory of 1,500
units. Starting in October, the company intends to have an inventory policy of
maintaining ending inventory at the end of every month equal to the next month’s
sales.
Forecasted sales for the months October, Year 1, through January, Year 2 are as
follows:
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What is the amount of budgeted production units for November?
YOUR CORRECT
ANSWER ANSWER
2000
3500
5500
7500
Less
57.
A company expects to have sales of $1 million this quarter based on its per-unit
wholesale selling price of $20. The firm tries to end each quarter with 15,000 units
of finished inventory in case of large last-minute orders. At the start of the current
quarter, the company has 12,800 finished units in inventory.
How many units should the firm produce this quarter?
YOUR CORRECT
ANSWER ANSWER
47,800
52,200
65,000
77,800
Less
58.
A company forecasted the following purchases:
January: $200,000
February: $400,000
March: $500,000
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Thirty percent of purchases are for cash. Of the credit purchases, 40% are paid
during the month of the purchase, 35% in the month following the purchase, and
25% in the second month following the purchase. Actual purchases for November
and December of Year 1 were $300,000 and $350,000, respectively.
What is the forecasted amount of total cash disbursements for purchases in
March?
YOUR CORRECT
ANSWER ANSWER
$273,000
$390,000
$423,000
$500,000
Less
59.
A company determines that it needs to produce 30,000 units of a given product
this quarter. Each product requires 5 minutes of labor, and the company’s labor
cost is $20 per hour. However, the firm's workforce can only do 2,000 hours of
labor in a standard quarter. Thus any time above this amount must come from
overtime labor, which costs 50% more.
What is the firm’s projected total labor cost for the quarter?
YOUR CORRECT
ANSWER ANSWER
$50,000
$55,000
$360,000
$600,000
Less
https://my.wgu.edu/coaching-report/v4-1/studentPidm/400095/assessmentId/1800005/cour... 3/23/2019
COACHING REPORT – Pre-Assessment: Cost and
Managerial Accounting (WFC1) (PWFC)
Attempt 1 – March 21, 2019 Print View
Competencies and Topics Assessment Score
Preparing a Master Budget and Flexible Budget Suggested Study Review
54.
What are two advantages of budgeting?
Choose 2 answers
YOUR CORRECT
ANSWER ANSWER
It helps coordinate customer activities.
It forces managers to think about and record the past.
It helps to ensure everyone in the organization is pulling
in the same direction.
It defines goals and objectives that serve as benchmarks
for evaluating subsequent performance.
Less
https://my.wgu.edu/coaching-report/v4-1/studentPidm/400095/assessmentId/1800005/cour... 3/23/2019
,WGU Student Portal | Coaching Report Page 2 of 50
55.
It is January 1 of Year 2. Company sales for January, February, and March are
forecasted as follows:
January: $20,000
February: $40,000
March: $50,000
Seventy percent of sales are credit sales, and the remaining 30% of sales are cash
sales. Of these credit sales, 40% are collected during the month of sale, 50% in the
following month, 5% in the second following month, and 5% are never collected.
Total sales for November and December of Year 1 were $20,000 and $40,000,
respectively.
What is the expected amount of total cash collections from sales in January?
YOUR CORRECT
ANSWER ANSWER
$20,300
$26,300
$27,000
$29,000
Less
56.
On September 30 of Year 1, a company had finished goods inventory of 1,500
units. Starting in October, the company intends to have an inventory policy of
maintaining ending inventory at the end of every month equal to the next month’s
sales.
Forecasted sales for the months October, Year 1, through January, Year 2 are as
follows:
https://my.wgu.edu/coaching-report/v4-1/studentPidm/400095/assessmentId/1800005/cour... 3/23/2019
,WGU Student Portal | Coaching Report Page 3 of 50
What is the amount of budgeted production units for November?
YOUR CORRECT
ANSWER ANSWER
2000
3500
5500
7500
Less
57.
A company expects to have sales of $1 million this quarter based on its per-unit
wholesale selling price of $20. The firm tries to end each quarter with 15,000 units
of finished inventory in case of large last-minute orders. At the start of the current
quarter, the company has 12,800 finished units in inventory.
How many units should the firm produce this quarter?
YOUR CORRECT
ANSWER ANSWER
47,800
52,200
65,000
77,800
Less
58.
A company forecasted the following purchases:
January: $200,000
February: $400,000
March: $500,000
https://my.wgu.edu/coaching-report/v4-1/studentPidm/400095/assessmentId/1800005/cour... 3/23/2019
, WGU Student Portal | Coaching Report Page 4 of 50
Thirty percent of purchases are for cash. Of the credit purchases, 40% are paid
during the month of the purchase, 35% in the month following the purchase, and
25% in the second month following the purchase. Actual purchases for November
and December of Year 1 were $300,000 and $350,000, respectively.
What is the forecasted amount of total cash disbursements for purchases in
March?
YOUR CORRECT
ANSWER ANSWER
$273,000
$390,000
$423,000
$500,000
Less
59.
A company determines that it needs to produce 30,000 units of a given product
this quarter. Each product requires 5 minutes of labor, and the company’s labor
cost is $20 per hour. However, the firm's workforce can only do 2,000 hours of
labor in a standard quarter. Thus any time above this amount must come from
overtime labor, which costs 50% more.
What is the firm’s projected total labor cost for the quarter?
YOUR CORRECT
ANSWER ANSWER
$50,000
$55,000
$360,000
$600,000
Less
https://my.wgu.edu/coaching-report/v4-1/studentPidm/400095/assessmentId/1800005/cour... 3/23/2019
