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WGU D196 EXAM | PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTING EXAM | QUESTIONS AND VERIFIED ANSWERS GRADED A+ $9.99
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WGU D196 EXAM | PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTING EXAM | QUESTIONS AND VERIFIED ANSWERS GRADED A+

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WGU D196 EXAM | PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTING EXAM | QUESTIONS AND VERIFIED ANSWERS GRADED A+ WGU D196 EXAM | PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTING EXAM | QUESTIONS AND VERIFIED ANSWERS GRADED A+ WGU D196 EXAM | PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTI...

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  • October 24, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • WGU D196
  • WGU D196

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WGU D196 EXAM | PRINCIPLES OF
FINANCIAL AND MANAGERIAL
ACCOUNTING EXAM | QUESTIONS
AND VERIFIED ANSWERS GRADED A+


Which budget should include the expected cost of supplies used by the
office staff of the corporate headquarters?

Production budget

Direct materials budget

Sales budget

Administrative expense budget

- Correct Answer - Administrative expense budget



Which items are uncontrollable, external variables that make it difficult to
forecast the level of sales?

Inventory level and product management

Selling price and sales effort

Customer tastes and economic conditions

Direct labor and advertising expenditures

- Correct Answer - Customer tastes and economic conditions

,What is the correct sequence of budgets in a manufacturing business?

Direct materials, sales, production

Sales, production, direct materials

Production, direct materials, sales

Sales, direct materials, production

- Correct Answer - Sales, production, direct materials



Which type of business organization has a major focus on direct
materials, direct labor, and overhead?

Merchandising

Service

Retail

Manufacturing

- Correct Answer - Manufacturing



What are the three primary functions that company managers use
managerial accounting information for?

Operating, investing, and financing

Planning, controlling, and evaluating

Borrowing, repaying, and lending

Reporting, allowing, and negotiating

- Correct Answer - Planning, controlling, and evaluating

, What is the proper accounting for a product cost?

Record immediately as an expense

Record as a liability on the balance sheet

Record as a financing cash flow

Record as an inventory cost until the item is sold

- Correct Answer - Record as an inventory cost until the item is sold



How could a period cost be reported in an income statement?

As an administrative expense

As cost of goods manufactured

As cost of goods sold

As manufacturing overhead

- Correct Answer - As an administrative expense



A retail company purchased inventory costing $100,000. By the end of
the year, inventory costing $75,000 had been sold.

How is the remaining $25,000 in inventory reported in the financial
statements?

As manufacturing overhead in the income statement

As an asset in the balance sheet

As an administrative expense in the income statement

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