WGU D101 COST AND MANAGERIAL ACCOUNTING
85 QUESTIONS WITH VERIFIED ANSWERS
Manufacturing costs other than direct materials and direct labor - CORRECT
ANSWER Actual Manufacturing Overhead
The amount of the manufacturing overhead that is assigned to the goods
produced; this is usually done by using a predetermined annual overhead rate -
CORRECT ANSWER Applied Manufacturing Overhead
Activities that take place to support a batch or production run, regardless of the
size of the batch - CORRECT ANSWER Batch-level Activities
The ending-work-in-process inventory that is carried over from the last accounting
period to the current accounting period - CORRECT ANSWER Beginning Work-in-
process Inventory
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 - CORRECT ANSWER Break-
even Point
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 - CORRECT ANSWER
Budgeted Production in Units
, 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 - CORRECT ANSWER Budgeted Sales in Dollars
Information in the sales budget that feeds directly into the production budget,
from which the direct materials and direct labor budgets are created - CORRECT
ANSWER Budgeted Sales in Units
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 - CORRECT ANSWER Common Costs
The difference between total sales and variable costs; the portion of sales revenue
available to cover fixed costs and provide a profit - CORRECT ANSWER
Contribution Margin
The percentage of net sales revenue left after variable costs are deducted; the
contribution margin divided by net sales revenue - CORRECT ANSWER
Contribution Margin Ratio
The costs of converting raw materials to finished products; these include direct
labor and manufacturing overhead costs - CORRECT ANSWER Conversion Costs
The way a cost is affected by changes in activity levels - CORRECT ANSWER Cost
Behavior
85 QUESTIONS WITH VERIFIED ANSWERS
Manufacturing costs other than direct materials and direct labor - CORRECT
ANSWER Actual Manufacturing Overhead
The amount of the manufacturing overhead that is assigned to the goods
produced; this is usually done by using a predetermined annual overhead rate -
CORRECT ANSWER Applied Manufacturing Overhead
Activities that take place to support a batch or production run, regardless of the
size of the batch - CORRECT ANSWER Batch-level Activities
The ending-work-in-process inventory that is carried over from the last accounting
period to the current accounting period - CORRECT ANSWER Beginning Work-in-
process Inventory
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 - CORRECT ANSWER Break-
even Point
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 - CORRECT ANSWER
Budgeted Production in Units
, 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 - CORRECT ANSWER Budgeted Sales in Dollars
Information in the sales budget that feeds directly into the production budget,
from which the direct materials and direct labor budgets are created - CORRECT
ANSWER Budgeted Sales in Units
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 - CORRECT ANSWER Common Costs
The difference between total sales and variable costs; the portion of sales revenue
available to cover fixed costs and provide a profit - CORRECT ANSWER
Contribution Margin
The percentage of net sales revenue left after variable costs are deducted; the
contribution margin divided by net sales revenue - CORRECT ANSWER
Contribution Margin Ratio
The costs of converting raw materials to finished products; these include direct
labor and manufacturing overhead costs - CORRECT ANSWER Conversion Costs
The way a cost is affected by changes in activity levels - CORRECT ANSWER Cost
Behavior
