WGU C213 Actual final Pretest and Post test Exam Questions and Best Graded Guaranteed success latest 2024/2025
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Course
WGU C213 Accounting for Decision Makers
Institution
WGU C213 Accounting For Decision Makers
WGU C213 Actual final Pretest and Post test Exam Questions and Best Graded Guaranteed success latest 2024/2025
Differential Costs - Correct Answer Future costs that change as a result of a decision; also called incremental or relevant costs.
Direct Costs - Correct Answer Costs that are specif...
WGU 213 Problem set Exam
Questions with all answers Correctly
provided Latest 2024/2025
Which two requirements must management of public companies
meet under the Sarbanes-Oxley Act? - Correct Answer They
must provide an assessment of the effectiveness of internal
controls with each annual report; They must support a stronger
board and audit committee.
Which two actions do internal auditors perform to assist in
maintaining the integrity of financial statements? - Correct
Answer They search for and investigate fraud; They review
financial records and internal controls.
What is a significant role of the U.S. Securities and Exchange
Commission (SEC) in financial reporting? - Correct Answer
They ensure that financial statement users are provided with
reliable information to use in decision making.
What does management accounting provide? - Correct Answer
The insight that management needs so the business can perform
more effectively; The detailed data that managers need to make
decisions that will give the business a competitive edge
How does management accounting differ from financial
accounting? - Correct Answer Management accounting is used
primarily for internal planning, control, and evaluation.
Which account is seen on the balance sheet of a manufacturing
company but not on the balance sheet of a service-oriented
company? - Correct Answer Differential cost
, Which two examples are period costs? - Correct Answer
Administrative expenses; selling expenses
A company manufactures custom-built wooden
bookshelves.Which two costs would the company classify as
period costs? - Correct Answer Salary cost of the receptionist;
Advertising cost
What role do ethical standards have in management accounting?
- Correct Answer To guide the resolution to possible ethical
dilemmas that the managerial accountant may encounter
During its first month of operations, a manufacturer incurs the
following costs in dollars related to activities within its factory:
Direct materials costs $5,000Indirect materials$2,000Direct
labor $15,000Indirect labor$3,000Factory
rent$10,000Depreciation on factory equipment $8,000
What are the manufacturer's total product costs for the month? -
Correct Answer $43,000
During its first month of operations, a manufacturer incurs the
following costs (in dollars) related to activities within its factory:
Direct materials $15,000 Direct labor $30,000 Manufacturing
overhead $40,000
What amount should be reported as cost of goods sold on the
income statement if 5,000 units are produced and 4,000 are
sold? - Correct Answer $68,000
Which two costs are included when calculating inventory costs? -
Correct Answer direct labor; overhead
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