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(WGU D101) ACCT 3314 - Cost & Managerial Accounting - Final Assessment Guide . $12.49   Add to cart
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(WGU D101) ACCT 3314 - Cost & Managerial Accounting - Final Assessment Guide .
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(WGU D101) ACCT 3314 - Cost & Managerial Accounting - Final Assessment Guide .(WGU D101) ACCT 3314 - Cost & Managerial Accounting - Final Assessment Guide .(WGU D101) ACCT 3314 - Cost & Managerial Accounting - Final Assessment Guide .

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  • September 2, 2024
  • 18
  • 2024/2025
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  • wgu d101 acct 3314 cost managerial accountin

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D101 ACCT 3314



Cost & Managerial Accounting




FINAL ASSESSMENT GUIDE




© WGU 2024/2025

,1. Multiple Choice: What is the primary goal of managerial
accounting?
a) Tax preparation
b) Financial reporting
c) Decision making
d) External auditing
Answer: c) Decision making
Rationale: Managerial accounting focuses on providing
information for internal decision making.


2. Fill-in-the-Blank: The ________ method is used to allocate
service department costs to producing departments based on the
level of services utilized.
Answer: Activity-based costing
Rationale: Activity-based costing allocates overhead costs
specifically to the activities that drive them.


3. True/False: In cost accounting, sunk costs should be considered
when making future business decisions.
Answer: False
© WGU 2024/2025

, Rationale: Sunk costs are past costs that cannot be recovered and
should not influence future business decisions.


4. Multiple Response: Which of the following are considered
variable costs? (Select all that apply)
a) Direct materials
b) Sales commissions
c) Factory lease payments
d) Production supervisor's salary
Answers: a) Direct materials, b) Sales commissions
Rationale: Variable costs change with the level of production,
such as direct materials and sales commissions.


5. Multiple Choice: The contribution margin can be defined as:
a) Sales minus variable costs
b) Sales minus fixed costs
c) Fixed costs minus variable costs
d) Total costs minus sales
Answer: a) Sales minus variable costs
Rationale: The contribution margin is the remaining sales
revenue after variable costs are deducted.


© WGU 2024/2025

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