WGU D199 TEST BANK FINAL EXAM UPDATED QUESTIONS AND ANSWERS VERIFIED 100% COMPLETE DOCUMENT FOR STUDY
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WGU D199 TEST BANK FINAL EXAM 2024-2025
Institution
WGU D199 TEST BANK FINAL EXAM 2024-2025
WGU D199 TEST BANK FINAL EXAM
UPDATED QUESTIONS AND ANSWERS VERIFIED
100% COMPLETE DOCUMENT FOR STUDYWGU D199 TEST BANK FINAL EXAM
UPDATED QUESTIONS AND ANSWERS VERIFIED
100% COMPLETE DOCUMENT FOR STUDYWGU D199 TEST BANK FINAL EXAM
UPDATED QUESTIONS AND ANSWERS VERIFIED
100% COMPLETE...
WGU D199 TEST BANK FINAL EXAM 2024-2025
UPDATED QUESTIONS AND ANSWERS VERIFIED
100% COMPLETE DOCUMENT FOR STUDY
1. Which budget should include all production costs other
than those for direct materials and direct labor?
A.Sales budget
B.Direct materials budget
C.Manufacturing overhead budget
D. Production budget
c
2. Which account is a common asset account?
A.Accounts payables
B.Equity
C.Accounts receivable
D. Utilities Expense
c
3 .On which financial statement would you see the valuation
of a company's asset accounts?
a.Statement of Cash Flows
b.Balance Sheet
c.Income Statement
d.Statement of Retained Earnings
B
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4. What is the final step in the accounting cycle?
a.Summarize the effects of transactions
b.Analyze transactions
c.Prepare reports
d.Record the effects of transactions
c
5. Which of the following is not an example of a transaction?
a.Receive cash in payment of an invoice
b.Purchase an asset from a supplier
c.Sale on credit to a customer
d. Preparing financial statements
d
6. On which financial statement would you see cash flows
from financing activities?
a.Statement of Cash Flows
b.Balance Sheet
c.Income Statement
d.Statement of Retained Earnings
d
7. Whose job is it to make sure that investors are provided
with full and fair information about publicly traded
companies?
FASB
AICPA
, Page |3
IASB
SEC
d
8. How does a classified balance sheet provide useful
information to a decision maker?
a.It distinguishes between current and long-term assets
b.It provides data that are not publicly disclosed
c.It distinguishes liabilities from expenses
D. It provides data for a period of time instead of as a point in
time
a
9. In some companies, the performance measures for profit
center managers are heavily influenced by cost allocations
downward from organizational units (such as company
headquarters). Why is this a mistake?
a.Controllable costs should not be included in the
performance evaluation measure of a profit center manager
b.Revenues should not be included in the performance
evaluation measure of a profit center manager
c.Uncontrollable costs should not be included in the
performance evaluation measure of a profit center manager
d. Direct costs should not be included in the performance
evaluation measure of a profit center manager
c
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10. Which is an example of a product cost?
a.Non-manufacturing personnel costs
b.Rent Expense
c.Office Supplies
d. Raw materials to make a product
d
11. Which label is given to the cost of wages for factory
supervisors?
a. Direct labor
b.Direct materials
c. Manufacturing overhead
d. Administrative expenses
c
12. A company reports the following data: Price per unit = $20
Variable costs per unit = $12 Fixed costs = $12,000 Given these
data, what is the variable cost ratio?
a. 40%
b. 25%
c. 16%
d. 60%
d
13. If overhead is underapplied, which statement is true?
a.Actual costs exceed applied costs
b.Applied costs exceed actual costs
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