WGU D196 Principles of Financial and Managerial Accounting - EXAM - 2026 (Questions + Answers) with verified Answers (Latest Update 2026) UPDATE!! Compliance Tips & How to Pass Fast

7/31/26, 9:26 AM Edit · WGU D196 Principles of Financial and Managerial Accounting - EXAM - 2026 (Questions + Answers) with verified Answers (L…




Back
Publicto set Done



Title

WGU D196 Principles of Financial and Managerial Accounting - EXAM - 2026 (Questions + Answers) with verified Answers (Latest Update 2


Add a description...




Import Add diagram



Suggestions




1



the production budget

TERM



Sales budget + ending finished goods inventory - beginning finished goods inventory
Image

DEFINITION




2



direct materials production budget

TERM



Production budget × direct materials per unit
Image

DEFINITION




3



the direct materials purchases budget

TERM



Direct materials production budget + ending direct materials inventory - beginning direct materials inventory
Image

DEFINITION




https://quizlet.com/1197313734/autosaved 1/30

,7/31/26, 9:26 AM Edit · WGU D196 Principles of Financial and Managerial Accounting - EXAM - 2026 (Questions + Answers) with verified Answers (L…
4



Cash collected from customers

TERM



(current period revenue × current period collection rate) + cash collected from previous period sales
Image

DEFINITION




5



Cash payments to suppliers

TERM



(current period purchases × current period payment rate) + cash paid on previous period purchases
Image

DEFINITION




6



Cost Variance

TERM



Difference between actual costs and budgeted costs
Image

DEFINITION




7



Contribution Margin

TERM


= Sales Revenue - Variable Costs
The difference between total sales and variable costs; the portion of sales revenue available to cover fixed costs and Image

provide a profit.

DEFINITION




8



https://quizlet.com/1197313734/autosaved 2/30

, 7/31/26, 9:26 AM Edit · WGU D196 Principles of Financial and Managerial Accounting - EXAM - 2026 (Questions + Answers) with verified Answers (L…

Target Income

TERM


= Sales Revenue - Variable Costs - Fixed Costs
A profit level desired by management. Image


DEFINITION




9



At break-even

TERM



Target income = 0
Image

DEFINITION




10



Sales Revenue

TERM



= Sales Price x Number of Units
Image

DEFINITION




11



Variable Costs

TERM


= Variable Cost per Unit x Number of Units
Costs that change in total in direct proportion to changes in activity level. Image


DEFINITION




12



Variable Cost Ratio x Sales Revenue

TERM

https://quizlet.com/1197313734/autosaved 3/30