WGU D101 COST AND
MANAGERIAL
ACCOUNTING EXAM
VERIFIED QUESTIONS
AND ANSWERS
, WGU D101 COST AND MANAGERIAL ACCOUNTING EXAM
VERIFIED QUESTIONS AND ANSWERS
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-process inventory that is
carried over from the last accounting period to the current accounting period
Break-even Point - - Answer --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
Budgeted Production in Units - - Answer --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
Budgeted Sales in Dollars - - Answer --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
Budgeted Sales in Units - - Answer --Information in the sales budget that feeds directly into the
production budget, from which the direct materials and direct labor budgets are created
Common Costs - - Answer --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
Contribution Margin - - Answer --The difference between total sales and variable costs; the
portion of sales revenue available to cover fixed costs and provide a profit
Contribution Margin Ratio - - Answer --The percentage of net sales revenue left after variable
costs are deducted; the contribution margin divided by net sales revenue
Conversion Costs - - Answer --The costs of converting raw materials to finished products; these
include direct labor and manufacturing overhead costs
Cost Behavior - - Answer --The way a cost is affected by changes in activity levels
Cost Driver - - Answer --Numerical measure used to reflect the amount of a specific cost
associated with a particular activity
Cost Objects - - Answer --A product or division for which costs are accumulated and tracked
MANAGERIAL
ACCOUNTING EXAM
VERIFIED QUESTIONS
AND ANSWERS
, WGU D101 COST AND MANAGERIAL ACCOUNTING EXAM
VERIFIED QUESTIONS AND ANSWERS
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-process inventory that is
carried over from the last accounting period to the current accounting period
Break-even Point - - Answer --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
Budgeted Production in Units - - Answer --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
Budgeted Sales in Dollars - - Answer --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
Budgeted Sales in Units - - Answer --Information in the sales budget that feeds directly into the
production budget, from which the direct materials and direct labor budgets are created
Common Costs - - Answer --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
Contribution Margin - - Answer --The difference between total sales and variable costs; the
portion of sales revenue available to cover fixed costs and provide a profit
Contribution Margin Ratio - - Answer --The percentage of net sales revenue left after variable
costs are deducted; the contribution margin divided by net sales revenue
Conversion Costs - - Answer --The costs of converting raw materials to finished products; these
include direct labor and manufacturing overhead costs
Cost Behavior - - Answer --The way a cost is affected by changes in activity levels
Cost Driver - - Answer --Numerical measure used to reflect the amount of a specific cost
associated with a particular activity
Cost Objects - - Answer --A product or division for which costs are accumulated and tracked
