Wgu d101 Study guides, Class notes & Summaries

What is a price taker? - correct answer A company that has to accept the price that the market sets for a good. They have no influence over setting the price. What is a price maker? - correct answer a firm possessing the power to set the price within the market. They still need to track all costs in order to make sure they are making an adequate return. What is the major purpose and use of job order costing? a. To create a system that tracks both manufacturing and period costs and assig...

What is a price taker? - ANSWER-A company that has to accept the price that the market sets for a good. They have no influence over setting the price. What is a price maker? - ANSWER-a firm possessing the power to set the price within the market. They still need to track all costs in order to make sure they are making an adequate return. What is the major purpose and use of job order costing? a. To create a system that tracks both manufacturing and period costs and assigns both to produ...

What is a price taker? - A company that has to accept the price that the market sets for a good. They have no influence over setting the price. What is a price maker? - a firm possessing the power to set the price within the market. They still need to track all costs in order to make sure they are making an adequate return. What is the major purpose and use of job order costing? a. To create a system that tracks both manufacturing and period costs and assigns both to products b. To create ...

WGU D101 PA REVIEW EXAM / 60 QUESTIONS, FORMULAES AND ANSWERS ALL CORRECT / 2023/2024 GRADED A+. 1) Job order costing- When is it appropriate to use job order costing? The customer has to provide the specifications of the product or service. In order to use job order costing you must be able to separate and identify each job (product) being produced. Companies that cannot specifically identifying and separate each job they use processing costing. 2) Which figures are used in computing ...

WGU D101 Cost and Managerial Accounting Exam with complete verified solutions 2024 WGU D101 Cost and Managerial Accounting Exam with complete verified solutions 2024 WGU D101 Cost and Managerial Accounting Exam with complete verified solutions 2024

WGU D101 COST AND MANAGERIAL ACCOUNTING COMPREHENSIVE QUESTIONS AND COMPLETE SOLUTIONS LATEST UPDATE 2024

WGU D101 Cost and Managerial Accounting Exam with complete verified solutions 2024.

Actual Manufacturing Overhead - ANSWER-Manufacturing costs other than direct materials and direct labor Applied Manufacturing Overhead - 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 - ANSWER-Activities that take place to support a batch or production run, regardless of the size of the batch Beginning Work-in-process Inventory - ANSWER-The ending-work-in-pr...