WGU D196 |Questions with 100% Correct
g g g g g
Answers | Updated & Verified | 2024
g g g g g g
1. Whichgbudgetgshouldgincludegallgproductiongcostsgothergthangthosegforgdirectgmaterialsgandgdir
ectglabor?
A. Salesgbudget
B. DirectgmaterialsgbudgetgC.Manu
facturinggoverheadgbudget
D.gProductiongbudgetg-g✔✔c
2. Whichgaccountgisgagcommongassetgaccount?
A. Accountsgpayables
gB.Equity
C. Accountsgreceivable
D. UtilitiesgExpenseg-g✔✔c
3g.Ongwhichgfinancialgstatementgwouldgyougseegthegvaluationgofgagcompany'sgassetgaccounts?ga.St
atementgofgCashgFlows
b. BalancegSheet
c. IncomegStatement
d. StatementgofgRetainedgEarningsg-g✔✔B
4. Whatgisgthegfinalgstepgingthegaccountinggcycle?
,a. Summarizegthegeffectsgofgtransactions
b. Analyzegtransactions
c. Preparegreports
d. Recordgthegeffectsgofgtransactionsg-g✔✔c
5. Whichgofgthegfollowinggisgnotgangexamplegofgagtransaction?
a. Receivegcashgingpaymentgofganginvoice
b. Purchasegangassetgfromgagsupplier
c. Salegongcreditgtogagcustomer
d. Preparinggfinancialgstatementsg-g✔✔d
6. Ongwhichgfinancialgstatementgwouldgyougseegcashgflowsgfromgfinancinggactivitie
s?ga.StatementgofgCashgFlows
b. BalancegSheet
c. IncomegStatement
d. StatementgofgRetainedgEarningsg-g✔✔d
7. Whosegjobgisgitgtogmakegsuregthatginvestorsgaregprovidedgwithgfullgandgfairginformationgaboutgpubli
clygtradedgcompanies?
FASBgAIC
PAgIASB
SECg-g✔✔d
,8. Howgdoesgagclassifiedgbalancegsheetgprovidegusefulginformationgtogagdecisiongmaker?
a. Itgdistinguishesgbetweengcurrentgandglong-termgassets
b. Itgprovidesgdatagthatgaregnotgpubliclygdisclosed
c. Itgdistinguishesgliabilitiesgfromgexpenses
D.gItgprovidesgdatagforgagperiodgofgtimeginsteadgofgasgagpointgingtimeg-g✔✔a
9. Ingsomegcompanies,gthegperformancegmeasuresgforgprofitgcentergmanagersgaregheavilyginfluencedg
bygcostgallocationsgdownwardgfromgorganizationalgunitsg(suchgasgcompanygheadquarters).gWhygisgthi
sgagmistake?
a. Controllablegcostsgshouldgnotgbegincludedgingthegperformancegevaluationgmeasuregofgagprofitgcent
ergmanager
b. Revenuesgshouldgnotgbegincludedgingthegperformancegevaluationgmeasuregofgagprofitgcentergmanager
c. Uncontrollablegcostsgshouldgnotgbegincludedgingthegperformancegevaluationgmeasuregofgagprofitgcent
ergmanager
d. Directgcostsgshouldgnotgbegincludedgingthegperformancegevaluationgmeasuregofgagprofitgcentergmanager
-g✔✔c
10. Whichgisgangexamplegofgagproductgcost
?ga.Non-manufacturinggpersonnelgcosts
b. RentgExpense
c. OfficegSupplies
d. Rawgmaterialsgtogmakegagproductg-g✔✔d
, 11. Whichglabelgisggivengtogthegcostgofgwagesgforgfactorygsupervisors?
a. Directglabor
b. Directgmaterials
c. Manufacturinggoverhead
d. Administrativegexpensesg-g✔✔c
12. Agcompanygreportsgthegfollowinggdata:gPricegpergunitg=g$20gVariablegcostsgpergunitg=g$12gFixedgcostsg=
$12,000gGivengthesegdata,gwhatgisgthegvariablegcostgratio?
a. 40%
b. 25%
c. 16%
d. 60%g-g✔✔d
13. Ifgoverheadgisgunderapplied,gwhichgstatementgisgtrue?
a. Actualgcostsgexceedgappliedgcosts
b. Appliedgcostsgexceedgactualgcosts
c. Costsgwillgnotgbegaffected
d. Budgetedgandgappliedgcostsgwillgbegequalg-g✔✔a
14. Whichgofgthegfollowinggisgnotgangexamplegofgagcostgdriver?
a. Milesgdriven
b. Sellinggcosts
c. Machineghours
g g g g g
Answers | Updated & Verified | 2024
g g g g g g
1. Whichgbudgetgshouldgincludegallgproductiongcostsgothergthangthosegforgdirectgmaterialsgandgdir
ectglabor?
A. Salesgbudget
B. DirectgmaterialsgbudgetgC.Manu
facturinggoverheadgbudget
D.gProductiongbudgetg-g✔✔c
2. Whichgaccountgisgagcommongassetgaccount?
A. Accountsgpayables
gB.Equity
C. Accountsgreceivable
D. UtilitiesgExpenseg-g✔✔c
3g.Ongwhichgfinancialgstatementgwouldgyougseegthegvaluationgofgagcompany'sgassetgaccounts?ga.St
atementgofgCashgFlows
b. BalancegSheet
c. IncomegStatement
d. StatementgofgRetainedgEarningsg-g✔✔B
4. Whatgisgthegfinalgstepgingthegaccountinggcycle?
,a. Summarizegthegeffectsgofgtransactions
b. Analyzegtransactions
c. Preparegreports
d. Recordgthegeffectsgofgtransactionsg-g✔✔c
5. Whichgofgthegfollowinggisgnotgangexamplegofgagtransaction?
a. Receivegcashgingpaymentgofganginvoice
b. Purchasegangassetgfromgagsupplier
c. Salegongcreditgtogagcustomer
d. Preparinggfinancialgstatementsg-g✔✔d
6. Ongwhichgfinancialgstatementgwouldgyougseegcashgflowsgfromgfinancinggactivitie
s?ga.StatementgofgCashgFlows
b. BalancegSheet
c. IncomegStatement
d. StatementgofgRetainedgEarningsg-g✔✔d
7. Whosegjobgisgitgtogmakegsuregthatginvestorsgaregprovidedgwithgfullgandgfairginformationgaboutgpubli
clygtradedgcompanies?
FASBgAIC
PAgIASB
SECg-g✔✔d
,8. Howgdoesgagclassifiedgbalancegsheetgprovidegusefulginformationgtogagdecisiongmaker?
a. Itgdistinguishesgbetweengcurrentgandglong-termgassets
b. Itgprovidesgdatagthatgaregnotgpubliclygdisclosed
c. Itgdistinguishesgliabilitiesgfromgexpenses
D.gItgprovidesgdatagforgagperiodgofgtimeginsteadgofgasgagpointgingtimeg-g✔✔a
9. Ingsomegcompanies,gthegperformancegmeasuresgforgprofitgcentergmanagersgaregheavilyginfluencedg
bygcostgallocationsgdownwardgfromgorganizationalgunitsg(suchgasgcompanygheadquarters).gWhygisgthi
sgagmistake?
a. Controllablegcostsgshouldgnotgbegincludedgingthegperformancegevaluationgmeasuregofgagprofitgcent
ergmanager
b. Revenuesgshouldgnotgbegincludedgingthegperformancegevaluationgmeasuregofgagprofitgcentergmanager
c. Uncontrollablegcostsgshouldgnotgbegincludedgingthegperformancegevaluationgmeasuregofgagprofitgcent
ergmanager
d. Directgcostsgshouldgnotgbegincludedgingthegperformancegevaluationgmeasuregofgagprofitgcentergmanager
-g✔✔c
10. Whichgisgangexamplegofgagproductgcost
?ga.Non-manufacturinggpersonnelgcosts
b. RentgExpense
c. OfficegSupplies
d. Rawgmaterialsgtogmakegagproductg-g✔✔d
, 11. Whichglabelgisggivengtogthegcostgofgwagesgforgfactorygsupervisors?
a. Directglabor
b. Directgmaterials
c. Manufacturinggoverhead
d. Administrativegexpensesg-g✔✔c
12. Agcompanygreportsgthegfollowinggdata:gPricegpergunitg=g$20gVariablegcostsgpergunitg=g$12gFixedgcostsg=
$12,000gGivengthesegdata,gwhatgisgthegvariablegcostgratio?
a. 40%
b. 25%
c. 16%
d. 60%g-g✔✔d
13. Ifgoverheadgisgunderapplied,gwhichgstatementgisgtrue?
a. Actualgcostsgexceedgappliedgcosts
b. Appliedgcostsgexceedgactualgcosts
c. Costsgwillgnotgbegaffected
d. Budgetedgandgappliedgcostsgwillgbegequalg-g✔✔a
14. Whichgofgthegfollowinggisgnotgangexamplegofgagcostgdriver?
a. Milesgdriven
b. Sellinggcosts
c. Machineghours
