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WGU D101 COST AND MANAGERIAL ACCOUNTING EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+$18.49
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WGU D101 COST AND MANAGERIAL ACCOUNTING EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
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Course
WGU D101 COST AND MANAGERIAL ACCOUNTING
Institution
WGU D101 COST AND MANAGERIAL ACCOUNTING
WGU D101 COST AND MANAGERIAL ACCOUNTING EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
WGU D101 COST AND MANAGERIAL
ACCOUNTING EXAM 2024 ACTUAL EXAM 2
VERSIONS (VERSION A AND B) COMPLETE
400 QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS)
/ALREADY GRADED A+
VERSION A
In a process costing system, production costs are
accumulated in the process centers. Where do the
costs go when all production work is completed in
the process centers?
a. Finished goods inventory
b. Selling, general, and administrative expenses
c. Manufacturing overhead
d. Raw materials inventory - ....ANSWER...a
Which is a measure of the amount of work done
during the production period under process costing?
,a. Direct materials
b. Conversion costs
c. Equivalent units of production
d. Equivalent units in beginning inventory -
....ANSWER...c.
What are the sum of direct labor and manufacturing
overhead costs referred to in a process costing
system?
a. Total manufacturing costs
b. Conversion costs
c. Finished goods inventory
d. Manufacturing costs - ....ANSWER...b.
Assume a production process using process costing
starts with a certain number of units in beginning
inventory that are partially completed, a certain
number of units are started and completed during
the period, and the ending inventory at the end of the
period is partially complete.
,How would you determine the equivalent units of
production in this situation for the period?
a. You would add the work required to complete the
units in beginning inventory plus the degree of
completion of the ending inventory units.
b. You would add the work required to start and
complete the units started during the period plus the
degree of completion of the ending inventory units.
c. You would add the work required to complete the
units in beginning inventory to the number of units
started and completed during the period to the
degree of completion of the ending inventory units.
d. You would add the work required to complete the
- ....ANSWER...c. Correct! To determine the equivalent
units of production in this situation in this period, you
would add the work required to complete the units in
beginning inventory plus the number of units started
and completed during the period plus the degree of
completion of the ending inventory units.
, Which cost would most likely be included first in a
process center?
a. Direct labor
b. Direct materials
c. Manufacturing overhead
d. Conversion costs - ....ANSWER...b
In process costing, the units completed and the units
remaining in ending work-in-process inventory at
the end of the period come from which of the
following?
a. The units in beginning inventory and the units
started during the current period
b. Only the units started during the current period
c. The units in ending inventory and the units started
during the period
d. Only the units in ending inventory in the current
period - ....ANSWER...a. The units in beginning
inventory and the units started make up all the units
active during the current period. Those "in play" units
will either be completed and transferred out or
remain in ending work-in-process inventory.
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