UFC1 WGU ACTUAL EXAM 2025/ 2026
QUESTIONS WITH VERIFIED ANSWERS
Materials Consumption Rpt - correct answer -Summarizes the materials used b a dept during a
reporting period (replaces a requisition)
EUP - correct answer -Equivalent Units of Production: a phrase that refers to the number of
units that could have been started and completed given the cost incurred
Physical Flow Reconciliation - correct answer -Reconciles 1. the physical units started in the
period and 2. the physical units completed.
Process Cost Summary - correct answer -1 Helps dept mgr's control/monitor their dept. 2. Helps
Factory mgr's evaluate dept mngrs. 3. Provide cost information for financial statements.
Cost of Goods Manufactured - correct answer -Cost of units transferred from goods in process
inventory to finished goods inventory.
Plantwide Overhead Rate - correct answer -= Total overhead cost/Direct labor hours
,Departmental O/H Rate - correct answer -= Total Dept O/H Cost/Total units (MH or DLH) in dept
allocation base
Activity Cost Pool - correct answer -Collection of costs that are related to the same or similar
activity.
Activity Driver - correct answer -What the cost is divided by. ie: DLH, Batches, Square Feet
ABC Step 1 - correct answer -Identify Activities and the Costs they Cause
ABC Step 2 - correct answer -Trace Overhead Costs for cost pools
ABC Step 3 - correct answer -Determine Activity Rates
ABC Step 4 - correct answer -Assign overhead costs to cost objects
Cost-Volume-Profit - correct answer -Predicts how changes in costs and sales levels affect
income
, Break Even Point - correct answer -Sales level at which a company neither earns an income nor
incurs a loss
Step Wise Cost - correct answer -Step pattern in costs. ie: A new shift is hired which required a
new lump sum on costs.
Curvilinear Costs - correct answer -Increases at non-consistent rate as volume increases.
Contribution Margin /unit - correct answer -Amount by which a products unit selling price
exceeds its total variable cost. =Sale price-Variable Cost
Contribution Margin Ratio - correct answer -The percent at which the sale price exceeds the
variable cost. =Contribution Margin per unit/Sales price
Break-Even Formula (Units) - correct answer -=Fixed cost/Contribution margin per unit
Break-Even Formula ($) - correct answer -=Fixed Costs/Contribution margin Ratio
CVP Assumptions - correct answer -Summing Costs offsets individual deviations. Applied to a
relevant range. Yields Estimates. Also can work with other output measures
QUESTIONS WITH VERIFIED ANSWERS
Materials Consumption Rpt - correct answer -Summarizes the materials used b a dept during a
reporting period (replaces a requisition)
EUP - correct answer -Equivalent Units of Production: a phrase that refers to the number of
units that could have been started and completed given the cost incurred
Physical Flow Reconciliation - correct answer -Reconciles 1. the physical units started in the
period and 2. the physical units completed.
Process Cost Summary - correct answer -1 Helps dept mgr's control/monitor their dept. 2. Helps
Factory mgr's evaluate dept mngrs. 3. Provide cost information for financial statements.
Cost of Goods Manufactured - correct answer -Cost of units transferred from goods in process
inventory to finished goods inventory.
Plantwide Overhead Rate - correct answer -= Total overhead cost/Direct labor hours
,Departmental O/H Rate - correct answer -= Total Dept O/H Cost/Total units (MH or DLH) in dept
allocation base
Activity Cost Pool - correct answer -Collection of costs that are related to the same or similar
activity.
Activity Driver - correct answer -What the cost is divided by. ie: DLH, Batches, Square Feet
ABC Step 1 - correct answer -Identify Activities and the Costs they Cause
ABC Step 2 - correct answer -Trace Overhead Costs for cost pools
ABC Step 3 - correct answer -Determine Activity Rates
ABC Step 4 - correct answer -Assign overhead costs to cost objects
Cost-Volume-Profit - correct answer -Predicts how changes in costs and sales levels affect
income
, Break Even Point - correct answer -Sales level at which a company neither earns an income nor
incurs a loss
Step Wise Cost - correct answer -Step pattern in costs. ie: A new shift is hired which required a
new lump sum on costs.
Curvilinear Costs - correct answer -Increases at non-consistent rate as volume increases.
Contribution Margin /unit - correct answer -Amount by which a products unit selling price
exceeds its total variable cost. =Sale price-Variable Cost
Contribution Margin Ratio - correct answer -The percent at which the sale price exceeds the
variable cost. =Contribution Margin per unit/Sales price
Break-Even Formula (Units) - correct answer -=Fixed cost/Contribution margin per unit
Break-Even Formula ($) - correct answer -=Fixed Costs/Contribution margin Ratio
CVP Assumptions - correct answer -Summing Costs offsets individual deviations. Applied to a
relevant range. Yields Estimates. Also can work with other output measures
