WGU D101: Complete Guide to Cost and Managerial
Accounting Techniques
Actual Manufacturing Overhead - correct answer ✔✔Manufacturing costs other than direct materials
and direct labor
Applied Manufacturing Overhead - correct answer ✔✔The amount of the manufacturing overhead that
is assigned to the goods produced; this is usually done by using a predetermined annual overhead rate
Batch-level Activities - correct answer ✔✔Activities that take place to support a batch or production run,
regardless of the size of the batch
Beginning Work-in-process Inventory - correct answer ✔✔The ending-work-in-process inventory that is
carried over from the last accounting period to the current accounting period
Break-even Point - correct answer ✔✔The amount of sales at which total costs of the number of units
sold equal total revenues; the point at which there is no profit or loss
Budgeted Production in Units - correct answer ✔✔The budgeted number of units to be produced in a
period, taking into consideration the sales volume, the number of units in beginning inventory, and the
number of units required to be in ending inventory
Budgeted Sales in Dollars - correct answer ✔✔The result when the budgeted sales in units is multiplied
by the unit sales prices for each product budgeted to be sold in the budget for the next year or the next
period
Budgeted Sales in Units - correct answer ✔✔Information in the sales budget that feeds directly into the
production budget, from which the direct materials and direct labor budgets are created
Common Costs - correct answer ✔✔Overhead costs like executive salaries or property taxes that cannot
be attributed to and are not the responsibility of specific products, departments, or business segments
, Contribution Margin - correct answer ✔✔The difference between total sales and variable costs; the
portion of sales revenue available to cover fixed costs and provide a profit
Contribution Margin Ratio - correct answer ✔✔The percentage of net sales revenue left after variable
costs are deducted; the contribution margin divided by net sales revenue
Conversion Costs - correct answer ✔✔The costs of converting raw materials to finished products; these
include direct labor and manufacturing overhead costs
Cost Behavior - correct answer ✔✔The way a cost is affected by changes in activity levels
Cost Driver - correct answer ✔✔Numerical measure used to reflect the amount of a specific cost
associated with a particular activity
Cost Objects - correct answer ✔✔A product or division for which costs are accumulated and tracked
Cost Pool - correct answer ✔✔Total cost being generated by a specific overhead cost activity
Cost of Goods Manufactured - correct answer ✔✔Total of all manufacturing costs
Cost of Goods Manufactured Schedule - correct answer ✔✔A schedule supporting the income statement
that summarizes the total cost of goods manufactured and transferred out of the work-inprocess
inventory account during a period; these costs include direct materials, direct labor, and applied
manufacturing overhead
Cost of Goods Sold - correct answer ✔✔Cost of products sold in a company, including costs of materials
used to create product and labor costs
Cost-volume-profit (CVP) Analysis - correct answer ✔✔Techniques for determining how changes in
revenues, costs, and level of activity affect the profitability of an organization
Critical Resource Factor - correct answer ✔✔The resource that limits operating capacity by its availability
Accounting Techniques
Actual Manufacturing Overhead - correct answer ✔✔Manufacturing costs other than direct materials
and direct labor
Applied Manufacturing Overhead - correct answer ✔✔The amount of the manufacturing overhead that
is assigned to the goods produced; this is usually done by using a predetermined annual overhead rate
Batch-level Activities - correct answer ✔✔Activities that take place to support a batch or production run,
regardless of the size of the batch
Beginning Work-in-process Inventory - correct answer ✔✔The ending-work-in-process inventory that is
carried over from the last accounting period to the current accounting period
Break-even Point - correct answer ✔✔The amount of sales at which total costs of the number of units
sold equal total revenues; the point at which there is no profit or loss
Budgeted Production in Units - correct answer ✔✔The budgeted number of units to be produced in a
period, taking into consideration the sales volume, the number of units in beginning inventory, and the
number of units required to be in ending inventory
Budgeted Sales in Dollars - correct answer ✔✔The result when the budgeted sales in units is multiplied
by the unit sales prices for each product budgeted to be sold in the budget for the next year or the next
period
Budgeted Sales in Units - correct answer ✔✔Information in the sales budget that feeds directly into the
production budget, from which the direct materials and direct labor budgets are created
Common Costs - correct answer ✔✔Overhead costs like executive salaries or property taxes that cannot
be attributed to and are not the responsibility of specific products, departments, or business segments
, Contribution Margin - correct answer ✔✔The difference between total sales and variable costs; the
portion of sales revenue available to cover fixed costs and provide a profit
Contribution Margin Ratio - correct answer ✔✔The percentage of net sales revenue left after variable
costs are deducted; the contribution margin divided by net sales revenue
Conversion Costs - correct answer ✔✔The costs of converting raw materials to finished products; these
include direct labor and manufacturing overhead costs
Cost Behavior - correct answer ✔✔The way a cost is affected by changes in activity levels
Cost Driver - correct answer ✔✔Numerical measure used to reflect the amount of a specific cost
associated with a particular activity
Cost Objects - correct answer ✔✔A product or division for which costs are accumulated and tracked
Cost Pool - correct answer ✔✔Total cost being generated by a specific overhead cost activity
Cost of Goods Manufactured - correct answer ✔✔Total of all manufacturing costs
Cost of Goods Manufactured Schedule - correct answer ✔✔A schedule supporting the income statement
that summarizes the total cost of goods manufactured and transferred out of the work-inprocess
inventory account during a period; these costs include direct materials, direct labor, and applied
manufacturing overhead
Cost of Goods Sold - correct answer ✔✔Cost of products sold in a company, including costs of materials
used to create product and labor costs
Cost-volume-profit (CVP) Analysis - correct answer ✔✔Techniques for determining how changes in
revenues, costs, and level of activity affect the profitability of an organization
Critical Resource Factor - correct answer ✔✔The resource that limits operating capacity by its availability
