WGU C213 FINAL EXAM QUESTIONS &
DETAILED COMPLETE SOLUTIONS
1. Order of
assets listed Manufacturing Co Selling Costs Direct Labor
on the bal- Administrative
ance sheet
2. Difference be-
tween a manu-
facturing
compa- ny and
a service
company.
Period Costs
Product Costs
Service Co.
Sell- ing Costs
Direct Labor
Administrativ
e Costs
Service
Overhead
,WGU C213 FINAL EXAM QUESTIONS &
DETAILED COMPLETE SOLUTIONS
Assets are listed in the order accumulated other comprehensive income, and lastly, treasury stock.
of liquidity. Liquidity is the
amount of time it would The only difference is - a manufacturing company has direct materials
(inventory).
usually take to covert an
asset into cash. Obviously,
cash would be listed first,
followed by marketable
investments (a company
can quickly convert a
short-term investment into
cash). Accounts receivable
would be listed next
followed by inven- tory,
and long-term
investments, fixed assets,
and intangibles.
Current assets are listed
before long-term assets.
Current liabilities are listed
before long-term liabilities,
but there is no specific
order they are listed in
outside of current and
long-term.
There is also no specific
order equity accounts are
listed on the balance
sheet; although, typically
you will see paid-in-capital
followed by retained
earnings fol- lowed by
,WGU C213 FINAL EXAM QUESTIONS &
DETAILED COMPLETE SOLUTIONS
Costs by 1.10 (10%
Manufacturin growth) to get the forecasted 2017 sales.
g Overhead Then multiply the pro- jected 2017 sales by
Direct the percent- ages from step 1. Now, what
Materials would
(inventory
3. Evaluating a
his- torical
income
statement to
pro- ject a
future in-
come
statement.
Projected
growth for
2017 = 10% in-
crease over
2016 sales.
Step 1:
Convert the
income state-
ment into a
com- mon-
sized in- come
statement.
Step 2: Multi-
ply 2016 sales
, WGU C213 FINAL EXAM QUESTIONS &
DETAILED COMPLETE SOLUTIONS
Calculation for 2016:
110,.10 = 100,000
DETAILED COMPLETE SOLUTIONS
1. Order of
assets listed Manufacturing Co Selling Costs Direct Labor
on the bal- Administrative
ance sheet
2. Difference be-
tween a manu-
facturing
compa- ny and
a service
company.
Period Costs
Product Costs
Service Co.
Sell- ing Costs
Direct Labor
Administrativ
e Costs
Service
Overhead
,WGU C213 FINAL EXAM QUESTIONS &
DETAILED COMPLETE SOLUTIONS
Assets are listed in the order accumulated other comprehensive income, and lastly, treasury stock.
of liquidity. Liquidity is the
amount of time it would The only difference is - a manufacturing company has direct materials
(inventory).
usually take to covert an
asset into cash. Obviously,
cash would be listed first,
followed by marketable
investments (a company
can quickly convert a
short-term investment into
cash). Accounts receivable
would be listed next
followed by inven- tory,
and long-term
investments, fixed assets,
and intangibles.
Current assets are listed
before long-term assets.
Current liabilities are listed
before long-term liabilities,
but there is no specific
order they are listed in
outside of current and
long-term.
There is also no specific
order equity accounts are
listed on the balance
sheet; although, typically
you will see paid-in-capital
followed by retained
earnings fol- lowed by
,WGU C213 FINAL EXAM QUESTIONS &
DETAILED COMPLETE SOLUTIONS
Costs by 1.10 (10%
Manufacturin growth) to get the forecasted 2017 sales.
g Overhead Then multiply the pro- jected 2017 sales by
Direct the percent- ages from step 1. Now, what
Materials would
(inventory
3. Evaluating a
his- torical
income
statement to
pro- ject a
future in-
come
statement.
Projected
growth for
2017 = 10% in-
crease over
2016 sales.
Step 1:
Convert the
income state-
ment into a
com- mon-
sized in- come
statement.
Step 2: Multi-
ply 2016 sales
, WGU C213 FINAL EXAM QUESTIONS &
DETAILED COMPLETE SOLUTIONS
Calculation for 2016:
110,.10 = 100,000
