WGU C253 Managerial Accounting
Revision Exam Questions Fully Solved.
job order cost - Answer direct materials used + direct labor + applied manufacturing overhead
pre-determined manufacturing overhead rate - Answer Estimated manufacturing overhead/estimated
units of allocation base
applied manufacturing overhead - Answer Actual Units of Allocation Base * Pre-determined
Manufacturing Overhead Rate
Under/Over Applied Manufacturing Overhead - Answer Actual Manufacturing Overhead -- Applied
Manufacturing Overhead
Cost of Goods Manufactured - Answer Direct materials + Direct labor + Manufacturing overhead
applied + Beginning work in process inventory - Ending work in process inventory
unadjusted cost of goods sold - Answer beginning finished goods inventory + cost of goods
manufactured - ending finished goods inventory
adjusted cost of goods sold - Answer beginning finished goods inventory + cost of goods manufactured
- ending finished goods inventory +/- under/over applied manufacturing overhead
variable cost/unit - Answer direct material/unit + direct labor/unit + variable manufacturing
overhead/unit; used only for internal purposes
absorption cost/unit - Answer direct material/unit + direct labor/unit + variable manufacturing
overhead/unit + fixed manufacturing overhead/unit; required for external reporting purposes like
financial statements
cost/equivalent unit (mat.) - weighted average method - Answer (cost of beginning inventory + costs
added)/(units complete * 100%) + (end work in process * mat. % complete)
Revision Exam Questions Fully Solved.
job order cost - Answer direct materials used + direct labor + applied manufacturing overhead
pre-determined manufacturing overhead rate - Answer Estimated manufacturing overhead/estimated
units of allocation base
applied manufacturing overhead - Answer Actual Units of Allocation Base * Pre-determined
Manufacturing Overhead Rate
Under/Over Applied Manufacturing Overhead - Answer Actual Manufacturing Overhead -- Applied
Manufacturing Overhead
Cost of Goods Manufactured - Answer Direct materials + Direct labor + Manufacturing overhead
applied + Beginning work in process inventory - Ending work in process inventory
unadjusted cost of goods sold - Answer beginning finished goods inventory + cost of goods
manufactured - ending finished goods inventory
adjusted cost of goods sold - Answer beginning finished goods inventory + cost of goods manufactured
- ending finished goods inventory +/- under/over applied manufacturing overhead
variable cost/unit - Answer direct material/unit + direct labor/unit + variable manufacturing
overhead/unit; used only for internal purposes
absorption cost/unit - Answer direct material/unit + direct labor/unit + variable manufacturing
overhead/unit + fixed manufacturing overhead/unit; required for external reporting purposes like
financial statements
cost/equivalent unit (mat.) - weighted average method - Answer (cost of beginning inventory + costs
added)/(units complete * 100%) + (end work in process * mat. % complete)
