Exam (elaborations)
WGU D196 EXAM QUESTIONS AND ANSWERS 2024
- Course
- Institution
WGU D196 EXAM QUESTIONS AND ANSWERS 2024
[Show more]
Content preview
WGU D196 EXAMWhich statement correctly describes applied manufacturing overhead? -
ANSWERS-The amount of manufacturing overhead that is assigned to the goods
produced
What is the label given to the quantity computed as estimated overhead costs
divided by estimated level of activity? - ANSWERS-Predetermined overhead rate
In a job order costing system, what is the proper accounting for a product cost? -
ANSWERS-It is reported as a part of cost of goods sold.
Which item is a period cost? - ANSWERS-Utility bills to heat the headquarters
building
Which statement is true with respect to activity-based costing (ABC) systems? -
ANSWERS-An ABC system allocates overhead based on multiple activities.
How is overhead allocated in an ABC system? - ANSWERS-Activity rate multiplied
by number of cost driver events
In an ABC system, which name is given to a numerical measure reflecting the
amount of a cost associated with a particular overhead cost activity? - ANSWERS-
Cost driver
, How are production costs treated in a process costing system? - ANSWERS-Costs
are accumulated by process and averaged over all products made during the
period.
How is the production cost per unit computed in a process costing system? -
ANSWERS-Amount of total production cost divided by the number of units
completed during a particular period of time
For which production process is process costing the appropriate costing method
to use? - ANSWERS-Refining gasoline in a petroleum facility
Which overhead allocation method should be used for a business that mass-
produces breakfast cereal? - ANSWERS-Process costing
What is the correct sequence for the flow of costs through a job order costing
system? - ANSWERS-Raw materials inventory, work-in-process inventory, finished
goods inventory, cost of goods sold
Which type of company cannot use job order costing? - ANSWERS-Petroleum
refining plant
What is an example of direct materials? - ANSWERS-Cost of aluminum in making
an airplane
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Teacher101. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now