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WGU D196 Objective Assessment Final Exam
Version 2 Newest 2025-2026 Complete All 200
Questions And Correct Detailed Answers
(Verified Answers) |Already Graded A+||Brand
New Version!
Projecting accurate sales is very difficult because sales are a function of
both uncontrollable external variables and controllable internal
variables. Which variable below is an uncontrollable external variable? -
ANSWER-Customer tastes
There are three important factors to be considered in preparing a
production budget. Which item below is one of those factors? -
ANSWER-Desired amount of ending inventory
What label is given to a business unit in which the manager is
responsible for costs, revenues, and assets? - ANSWER-Investment
center
On September 30 of Year 1, Burt Company had finished goods inventory
of 1,000 units. Starting in October, Burt intends to have an inventory
policy of maintaining ending inventory at the end of every month equal
to the next month's sales.
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What additional information is needed in order to compute budgeted
production for Burt Company for October? - ANSWER-Projected sales
What are the factors the CFO should consider in forecasting next
month's purchases? - ANSWER-Production needs, desired ending
inventory, and amount of beginning inventory
Scott Pippen is the manager of Segment A in Chicago Company.
Segment A is a profit center. Which two things should be used in
developing a performance evaluation measure of Scott Pippen? -
ANSWER-Revenues and controllable costs
Which statement about managerial accounting data is true? - ANSWER-
Managerial accounting data are created based on competitive needs that
are unique to the organization.
Which characteristic is a unique feature of management accounting
information? - ANSWER-Management accounting information is
composed of both financial and nonfinancial data.
Which group represents the primary users of managerial accounting
information? - ANSWER-Managers
Company managers are important users of managerial accounting
information. What are the three primary functions of company
managers? - ANSWER-Planning, controlling, and evaluating
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Which statement correctly distinguishes the uses of financial accounting
information from the uses of managerial accounting information? -
ANSWER-Financial accounting information is prepared according to a
generally accepted set of rules.
Which activity involves the process of tracking the actual performance
of a company? - ANSWER-Controlling - means tracking the actual
performance of a company.
What does long-run planning include? - ANSWER-Strategic planning
and capital budgeting
Which type of business is a typical retailer? - ANSWER-Merchandising
business
Which types of costs does a merchandiser have? - ANSWER-Both
product and period costs
Which types of costs does a manufacturer have? - ANSWER-Both
product and period costs
Which type of business purchases finished goods for resale? -
ANSWER-Merchandising
, 4|Page
A merchandising business purchases inventory from suppliers for resale
to customers.
Which statement identifies a difference between managerial and
financial accounting? - ANSWER-Managerial accounting has substantial
competitive value, while financial accounting is not a competitive tool.
What is a characteristic of managerial accounting systems that is not also
a characteristic of financial accounting systems? - ANSWER-Managerial
accounting includes budget and forecast data.
What is the sequence of the flow of costs through a manufacturing
operation? - ANSWER-Purchase raw materials, transfer raw materials to
production, add direct labor and manufacturing overhead costs, transfer
the cost of completed goods to finished goods inventory, sell goods and
transfer cost to cost of goods sold.
What costs are included in manufacturing overhead? - ANSWER-All
manufacturing costs that are not classified as direct materials or direct
labor
What is work-in-process inventory? - ANSWER-All material on the
factory floor that is not yet completed
What type of cost are the wages paid to a factory supervisor? -
ANSWER-Manufacturing overhead
WGU D196 Objective Assessment Final Exam
Version 2 Newest 2025-2026 Complete All 200
Questions And Correct Detailed Answers
(Verified Answers) |Already Graded A+||Brand
New Version!
Projecting accurate sales is very difficult because sales are a function of
both uncontrollable external variables and controllable internal
variables. Which variable below is an uncontrollable external variable? -
ANSWER-Customer tastes
There are three important factors to be considered in preparing a
production budget. Which item below is one of those factors? -
ANSWER-Desired amount of ending inventory
What label is given to a business unit in which the manager is
responsible for costs, revenues, and assets? - ANSWER-Investment
center
On September 30 of Year 1, Burt Company had finished goods inventory
of 1,000 units. Starting in October, Burt intends to have an inventory
policy of maintaining ending inventory at the end of every month equal
to the next month's sales.
,2|Page
What additional information is needed in order to compute budgeted
production for Burt Company for October? - ANSWER-Projected sales
What are the factors the CFO should consider in forecasting next
month's purchases? - ANSWER-Production needs, desired ending
inventory, and amount of beginning inventory
Scott Pippen is the manager of Segment A in Chicago Company.
Segment A is a profit center. Which two things should be used in
developing a performance evaluation measure of Scott Pippen? -
ANSWER-Revenues and controllable costs
Which statement about managerial accounting data is true? - ANSWER-
Managerial accounting data are created based on competitive needs that
are unique to the organization.
Which characteristic is a unique feature of management accounting
information? - ANSWER-Management accounting information is
composed of both financial and nonfinancial data.
Which group represents the primary users of managerial accounting
information? - ANSWER-Managers
Company managers are important users of managerial accounting
information. What are the three primary functions of company
managers? - ANSWER-Planning, controlling, and evaluating
,3|Page
Which statement correctly distinguishes the uses of financial accounting
information from the uses of managerial accounting information? -
ANSWER-Financial accounting information is prepared according to a
generally accepted set of rules.
Which activity involves the process of tracking the actual performance
of a company? - ANSWER-Controlling - means tracking the actual
performance of a company.
What does long-run planning include? - ANSWER-Strategic planning
and capital budgeting
Which type of business is a typical retailer? - ANSWER-Merchandising
business
Which types of costs does a merchandiser have? - ANSWER-Both
product and period costs
Which types of costs does a manufacturer have? - ANSWER-Both
product and period costs
Which type of business purchases finished goods for resale? -
ANSWER-Merchandising
, 4|Page
A merchandising business purchases inventory from suppliers for resale
to customers.
Which statement identifies a difference between managerial and
financial accounting? - ANSWER-Managerial accounting has substantial
competitive value, while financial accounting is not a competitive tool.
What is a characteristic of managerial accounting systems that is not also
a characteristic of financial accounting systems? - ANSWER-Managerial
accounting includes budget and forecast data.
What is the sequence of the flow of costs through a manufacturing
operation? - ANSWER-Purchase raw materials, transfer raw materials to
production, add direct labor and manufacturing overhead costs, transfer
the cost of completed goods to finished goods inventory, sell goods and
transfer cost to cost of goods sold.
What costs are included in manufacturing overhead? - ANSWER-All
manufacturing costs that are not classified as direct materials or direct
labor
What is work-in-process inventory? - ANSWER-All material on the
factory floor that is not yet completed
What type of cost are the wages paid to a factory supervisor? -
ANSWER-Manufacturing overhead
