WGU D101 COST AND MANAGERIAL ACCOUNTING

WGU D101 COST AND MANAGERIAL ACCOUNTING EXAM 99 QUESTIONS WITH VERIFIED ANSWERS Credit to cash for $3,000. - CORRECT ANSWER A manufacturing company used cash to purchase raw materials costing $3,000. What should be included in the journal entry necessary to record this purchase of raw materials? Credit to work-in-process inventory for $3,000. Credit to raw materials inventory for $3,000. Credit to accounts payable for $3,000. Credit to cash for $3,000. Debit to manufacturing overhead fo...

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20 pages

Written in 2026/2027

Grade A+

paulhans

WGU D101 COST AND MANAGERIAL ACCOUNTING QUESTIONS WITH VERIFIED ANSWERS What is true about debits in the work-in-process T-account during the period? A company recorded depreciation of $16,000 on factory equipment. What should be included in the journal entry necessary to record this depreciation on factory equipment? A company reported the following data: Sales $240,000 (20,000 units) Variable operating costs $80,000 Contribution margin $160,000 Fixed operating costs $72,000 What is this ...

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53 pages

Written in 2026/2027

Grade A+

paulhans

WGU D101 COST AND MANAGERIAL ACCOUNTING EXAM 54 QUESTIONS WITH VERIFIED ANSWERS beginning WIP + total manufacturing costs - ending WIP - CORRECT ANSWER Cost of Goods Manufactured (COGM) Beginning balance - CORRECT ANSWER Work in Process (WIP) A method of product costing whereby production costs for a period are accumulated and then averaged over all units manufactured during that period - CORRECT ANSWER Process Costing Sales - COGS - CORRECT ANSWER Gross Margin Calculation Cost of p...

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8 pages

Written in 2026/2027

Grade A+

paulhans

WGU D101 COST AND MANAGERIAL ACCOUNTING 85 QUESTIONS WITH VERIFIED ANSWERS Manufacturing costs other than direct materials and direct labor - CORRECT ANSWER Actual Manufacturing Overhead The amount of the manufacturing overhead that is assigned to the goods produced; this is usually done by using a predetermined annual overhead rate - CORRECT ANSWER Applied Manufacturing Overhead Activities that take place to support a batch or production run, regardless of the size of the batch - CORRECT...

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12 pages

Written in 2026/2027

Grade A+

paulhans

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