7/17/25, 10:56 PM WGU C213
WGU C213 Pre Assessment 2022 latest update 2025 \complete
questions and correct detailed answers \it entails Wgu c213
Financial Accounting,accounting basics ,OA exam .WGU study
guide ,balance sheet , income statements , accounting
formulas
Which internal control is The inventory department counts and inspects items
intended to ensure that a as received and forwards the receiving record to
company does not accounts payable.
mistakenly pay a supplier
for an invoice that
includes more items than
were actually received?
What are two common They are preparing to qualify for a bank loan.
reasons for managers to
manipulate reported They are feeling pressured to meet internal sales
earnings? goals.
Firms must report to and be retained by the audit
Which two requirements committee rather than the CFO or other company
must accounting firms that management.
audit public companies
meet under the Sarbanes- Firms must not provide certain nonaudit services to
Oxley Act? audit clients, such as management functions or legal
services.
1/19
,7/17/25, 10:56 PM WGU C213
Credit sales are collected over three months. We
need to determine the collections from:
Credit sales in June (60% collected in June)
Credit sales in May (30% collected in June)
A company has projected Credit sales in April (10% collected in June)
the following sales for the
spring quarter of 2014: Credit Sales in June:
Credit Sales (June)=0.35×$275,000=$96,250\text{Credit
April $200,000 Sales (June)} = 0.35 \times \$275,000 = \$96,250Credit
May $250,000 Sales (June)=0.35×$275,000=$96,250 Collection from
June $275,000 June Credit
Sales=0.60×$96,250=$57,750\text{Collection from June
65% of all sales are paid Credit Sales} = 0.60 \times \$96,250 =
for with cash. The \$57,750Collection from June Credit
remainder is on credit. Sales=0.60×$96,250=$57,750
The pattern for credit Credit Sales in May:
receivables collections Credit Sales (May)=0.35×$250,000=$87,500\text{Credit
are: Month of Sale 60% Sales (May)} = 0.35 \times \$250,000 = \$87,500Credit
Month After Sale 30% Sales (May)=0.35×$250,000=$87,500 Collection from
Second Month After Sale May Credit
10% Sales=0.30×$87,500=$26,250\text{Collection from May
What are the forecasted Credit Sales} = 0.30 \times \$87,500 =
cash collections for the \$26,250Collection from May Credit
month of June? Sales=0.30×$87,500=$26,250
Credit Sales in April:
Credit Sales
(April)=0.35×$200,000=$70,000\text{Credit Sales
(April)} = 0.35 \times \$200,000 = \$70,000Credit Sales
2/19
, 7/17/25, 10:56 PM WGU C213
A manufacturer produces Activity Rate Pool 1 = Total costs Pool 1/Total Activity
three products: A, B, and Pool 1: 300,000/20,000 Hours = $15/HR
C.
Activity Rate Pool 2 = Total costs Pool 2/Total Activity
The company uses the Pool 2:$20,000/500 Pounds = $40/Pound
following information to
determine activity rates for Activity Rate Pool 3 =Total Costs Pool 3/Total Activity
each pool: Pool 3: $10,000/100 moves= $100/Move
Cost Pool Costs Total Apply the Activity Rates to Product A
Activity
Pool 1 300,000 20,000
Hours For Pool 1:
Pool 2 20,000 500 Pounds Overhead Applied (Pool 1)=Activity Rate (Pool
Pool 3 10,000 100 moves 1)×Number of Hours (Product A)=$15×10,000=$150,000
Total 330,000
For Pool 2:
Data Concerning the three Overhead Applied (Pool 2)=Activity Rate (Pool
products appears below: 2)×Number of Pounds (Product A)=$40×150=$6,000
Cost Driver Products A For Pool 3:
Products B Products C Overhead Applied (Pool 3)=Activity Rate (Pool
Number of hours 10,000 3)×Number of Moves (Product A)=$100×20=$2,000
7500 2500
Number of Pounds 150 $150,000 + $6,000 + 2000 =$158,000
250 100
Number of Moves 20 30
50
What is the total amount
of overhead applied to
product A?
What two items of Debt/Ownership
information are revealed
on the balance sheet?
3/19
WGU C213 Pre Assessment 2022 latest update 2025 \complete
questions and correct detailed answers \it entails Wgu c213
Financial Accounting,accounting basics ,OA exam .WGU study
guide ,balance sheet , income statements , accounting
formulas
Which internal control is The inventory department counts and inspects items
intended to ensure that a as received and forwards the receiving record to
company does not accounts payable.
mistakenly pay a supplier
for an invoice that
includes more items than
were actually received?
What are two common They are preparing to qualify for a bank loan.
reasons for managers to
manipulate reported They are feeling pressured to meet internal sales
earnings? goals.
Firms must report to and be retained by the audit
Which two requirements committee rather than the CFO or other company
must accounting firms that management.
audit public companies
meet under the Sarbanes- Firms must not provide certain nonaudit services to
Oxley Act? audit clients, such as management functions or legal
services.
1/19
,7/17/25, 10:56 PM WGU C213
Credit sales are collected over three months. We
need to determine the collections from:
Credit sales in June (60% collected in June)
Credit sales in May (30% collected in June)
A company has projected Credit sales in April (10% collected in June)
the following sales for the
spring quarter of 2014: Credit Sales in June:
Credit Sales (June)=0.35×$275,000=$96,250\text{Credit
April $200,000 Sales (June)} = 0.35 \times \$275,000 = \$96,250Credit
May $250,000 Sales (June)=0.35×$275,000=$96,250 Collection from
June $275,000 June Credit
Sales=0.60×$96,250=$57,750\text{Collection from June
65% of all sales are paid Credit Sales} = 0.60 \times \$96,250 =
for with cash. The \$57,750Collection from June Credit
remainder is on credit. Sales=0.60×$96,250=$57,750
The pattern for credit Credit Sales in May:
receivables collections Credit Sales (May)=0.35×$250,000=$87,500\text{Credit
are: Month of Sale 60% Sales (May)} = 0.35 \times \$250,000 = \$87,500Credit
Month After Sale 30% Sales (May)=0.35×$250,000=$87,500 Collection from
Second Month After Sale May Credit
10% Sales=0.30×$87,500=$26,250\text{Collection from May
What are the forecasted Credit Sales} = 0.30 \times \$87,500 =
cash collections for the \$26,250Collection from May Credit
month of June? Sales=0.30×$87,500=$26,250
Credit Sales in April:
Credit Sales
(April)=0.35×$200,000=$70,000\text{Credit Sales
(April)} = 0.35 \times \$200,000 = \$70,000Credit Sales
2/19
, 7/17/25, 10:56 PM WGU C213
A manufacturer produces Activity Rate Pool 1 = Total costs Pool 1/Total Activity
three products: A, B, and Pool 1: 300,000/20,000 Hours = $15/HR
C.
Activity Rate Pool 2 = Total costs Pool 2/Total Activity
The company uses the Pool 2:$20,000/500 Pounds = $40/Pound
following information to
determine activity rates for Activity Rate Pool 3 =Total Costs Pool 3/Total Activity
each pool: Pool 3: $10,000/100 moves= $100/Move
Cost Pool Costs Total Apply the Activity Rates to Product A
Activity
Pool 1 300,000 20,000
Hours For Pool 1:
Pool 2 20,000 500 Pounds Overhead Applied (Pool 1)=Activity Rate (Pool
Pool 3 10,000 100 moves 1)×Number of Hours (Product A)=$15×10,000=$150,000
Total 330,000
For Pool 2:
Data Concerning the three Overhead Applied (Pool 2)=Activity Rate (Pool
products appears below: 2)×Number of Pounds (Product A)=$40×150=$6,000
Cost Driver Products A For Pool 3:
Products B Products C Overhead Applied (Pool 3)=Activity Rate (Pool
Number of hours 10,000 3)×Number of Moves (Product A)=$100×20=$2,000
7500 2500
Number of Pounds 150 $150,000 + $6,000 + 2000 =$158,000
250 100
Number of Moves 20 30
50
What is the total amount
of overhead applied to
product A?
What two items of Debt/Ownership
information are revealed
on the balance sheet?
3/19
