WGU D196 OA AND PRE-
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ASSESSMENT EXAM(ACTUAL 2024- g g
2025) QUESTIONS WITH CORRECT VERIFIED
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Which
GRADEDitem is
A+ a period cost?
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Rent on factory robotic equipment in an airplane manufacturer
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Wages of maintenance workers in the factory building
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Utility bills to heat the headquarters building
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Wages for factory quality control inspectors -
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ANSWERS_Utility bills to heat the headquarters building
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Which type of account is retained earnings?
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Revenue As g
set Equity
g
Liability - ANSWERS_Equity g g
For purposes of cash flow classification in the statement of cash
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flows, which item is an operating activity?
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Buying equipment Selli g g
ng bonds Distributing di
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vidends
Paying employees - ANSWERS_Paying employees
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How does a classified balance sheet provide useful informati
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on to a decision maker?
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,WGU D196 OA AND PRE- g g g g
ASSESSMENT EXAM(ACTUAL 2024- g g
2025) QUESTIONS WITH CORRECT VERIFIED
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It distinguishes
GRADED g A+between current and long-term assets.g g g g g g
It provides data for a period of time instead of as a point in time.
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It distinguishes liabilities from expenses.
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It provides data that are not publicly disclosed. -
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gANSWERS_It distinguishes between current and long- g g g g g
term assets. g
What information does a balance sheet provide to a decision ma
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ker?
Summary of the operating performance of a company during a p
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eriod
Summary of the financial position of a company at a particula
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r date
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Summary of the cash flows of a company during a period
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Summary of the operating performance of a company at a partic
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ular date - g g
gANSWERS_Summary of the financial position of a company a g g g g g g g g
t a particular date
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Which statement is true with respect to activity-
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based costing (ABC) systems?g g g
An ABC system allocates overhead based on multiple activities.
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Implementing an ABC system requires very little analysis of the g g g g g g g g g
gfactors that create overhead costs.g g g g
,WGU D196 OA AND PRE- g g g g
ASSESSMENT EXAM(ACTUAL 2024- g g
2025) QUESTIONS WITH CORRECT VERIFIED
g g g g g
An ABC system
GRADED A+ completely eliminates all overhead costs.
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Implementing an ABC system requires only a careful calculatio g g g g g g g g
n of total direct labor hours. -
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gANSWERS_An ABC system allocates overhead based on mult g g g g g g g
iple activities. g
Implementing an ABC system requires very little analysis of the g g g g g g g g g
gfactors that create overhead costs. g g g g
How is overhead allocated in an ABC system?
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Sum of materials and labor cost multiplied by number of units
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Budgeted overhead multiplied by expected number of direct lab
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or hours g
You Selected g
Cost pool multiplied by number of cost driver events Activit
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y rate multiplied by number of cost driver events -
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ANSWERS_Activity rate multiplied by number of cost driver g g g g g g g
events
In an ABC system, which name is given to a numerical measure
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greflecting the amount of a cost associated with a particular over
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head cost activity? g g
Cost system g g
You Selected g g
Cost pool Cos g g
t metric
g
, WGU D196 OA AND PRE- g g g g
ASSESSMENT EXAM(ACTUAL 2024- g g
2025) QUESTIONS WITH CORRECT VERIFIED
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Cost driver -A+
GRADED ANSWERS_Cost driver
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How are production costs treated in a process costing system?
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Costs are assigned to the actual manufacturing overhead accoun
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t during the period.
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Costs are assigned to specific jobs or products made during th
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e period.
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Costs are accumulated by process and averaged over all product
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s made during the period.
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Costs are assigned to a selling, general, and administrative expe
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nse account during the period. -
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ANSWERS_Costs are accumulated by process and averaged o
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ver all products made during the period.
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How is the production cost per unit computed in a process costi
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ng system? g
Amount of overhead cost divided by the number of units compl
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eted during a particular period of time
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Amount of direct materials cost divided by the quantity of direct
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materials used during a particular period of time
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Amount of total production cost divided by the number of uni
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ts completed during a particular period of time
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Amount of direct labor cost divided by the number of direct lab
g g g g g g g g g g g
or hours used during a particular period of time -
g g g g g g g g g
g g g g
ASSESSMENT EXAM(ACTUAL 2024- g g
2025) QUESTIONS WITH CORRECT VERIFIED
g g g g g
Which
GRADEDitem is
A+ a period cost?
g gg g g g
Rent on factory robotic equipment in an airplane manufacturer
g g g g g g g g g
Wages of maintenance workers in the factory building
g g g g g g g
Utility bills to heat the headquarters building
g g g g g g
Wages for factory quality control inspectors -
g g g g g g
ANSWERS_Utility bills to heat the headquarters building
g g g g g g g
Which type of account is retained earnings?
g g g g g g
Revenue As g
set Equity
g
Liability - ANSWERS_Equity g g
For purposes of cash flow classification in the statement of cash
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flows, which item is an operating activity?
g g g g g g
Buying equipment Selli g g
ng bonds Distributing di
g g g
vidends
Paying employees - ANSWERS_Paying employees
g g g g
How does a classified balance sheet provide useful informati
g g g g g g g g
on to a decision maker?
g g g g
,WGU D196 OA AND PRE- g g g g
ASSESSMENT EXAM(ACTUAL 2024- g g
2025) QUESTIONS WITH CORRECT VERIFIED
g g g g g
It distinguishes
GRADED g A+between current and long-term assets.g g g g g g
It provides data for a period of time instead of as a point in time.
g g g g g g g g g g g g g g
It distinguishes liabilities from expenses.
g g g g
It provides data that are not publicly disclosed. -
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gANSWERS_It distinguishes between current and long- g g g g g
term assets. g
What information does a balance sheet provide to a decision ma
g g g g g g g g g g
ker?
Summary of the operating performance of a company during a p
g g g g g g g g g g
eriod
Summary of the financial position of a company at a particula
g g g g g g g g g g
r date
g
Summary of the cash flows of a company during a period
g g g g g g g g g g
Summary of the operating performance of a company at a partic
g g g g g g g g g g
ular date - g g
gANSWERS_Summary of the financial position of a company a g g g g g g g g
t a particular date
g g g
Which statement is true with respect to activity-
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based costing (ABC) systems?g g g
An ABC system allocates overhead based on multiple activities.
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Implementing an ABC system requires very little analysis of the g g g g g g g g g
gfactors that create overhead costs.g g g g
,WGU D196 OA AND PRE- g g g g
ASSESSMENT EXAM(ACTUAL 2024- g g
2025) QUESTIONS WITH CORRECT VERIFIED
g g g g g
An ABC system
GRADED A+ completely eliminates all overhead costs.
g g g g g g g g
Implementing an ABC system requires only a careful calculatio g g g g g g g g
n of total direct labor hours. -
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gANSWERS_An ABC system allocates overhead based on mult g g g g g g g
iple activities. g
Implementing an ABC system requires very little analysis of the g g g g g g g g g
gfactors that create overhead costs. g g g g
How is overhead allocated in an ABC system?
g g g g g g g
Sum of materials and labor cost multiplied by number of units
g g g g g g g g g g
Budgeted overhead multiplied by expected number of direct lab
g g g g g g g g
or hours g
You Selected g
Cost pool multiplied by number of cost driver events Activit
g g g g g g g g g
y rate multiplied by number of cost driver events -
g g g g g g g g g
ANSWERS_Activity rate multiplied by number of cost driver g g g g g g g
events
In an ABC system, which name is given to a numerical measure
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greflecting the amount of a cost associated with a particular over
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head cost activity? g g
Cost system g g
You Selected g g
Cost pool Cos g g
t metric
g
, WGU D196 OA AND PRE- g g g g
ASSESSMENT EXAM(ACTUAL 2024- g g
2025) QUESTIONS WITH CORRECT VERIFIED
g g g g g
Cost driver -A+
GRADED ANSWERS_Cost driver
g gg g g
How are production costs treated in a process costing system?
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Costs are assigned to the actual manufacturing overhead accoun
g g g g g g g g
t during the period.
g g g
Costs are assigned to specific jobs or products made during th
g g g g g g g g g g
e period.
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Costs are accumulated by process and averaged over all product
g g g g g g g g g
s made during the period.
g g g g
Costs are assigned to a selling, general, and administrative expe
g g g g g g g g g
nse account during the period. -
g g g g g
ANSWERS_Costs are accumulated by process and averaged o
g g g g g g g g
ver all products made during the period.
g g g g g g
How is the production cost per unit computed in a process costi
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ng system? g
Amount of overhead cost divided by the number of units compl
g g g g g g g g g g
eted during a particular period of time
g g g g g g
Amount of direct materials cost divided by the quantity of direct
g g g g g g g g g g
materials used during a particular period of time
g g g g g g g g
Amount of total production cost divided by the number of uni
g g g g g g g g g g
ts completed during a particular period of time
g g g g g g g
Amount of direct labor cost divided by the number of direct lab
g g g g g g g g g g g
or hours used during a particular period of time -
g g g g g g g g g
