WGU C213 Focused on internal and A Level Marking Scheme Latest 2024/2025
0 view 0 purchase
Course
WGU C213 Accounting for Decision Makers
Institution
WGU C213 Accounting For Decision Makers
WGU C213 Focused on internal and A Level Marking Scheme Latest 2024/2025
Produce products for resale - Correct Answer Manufacturing company
Materials that become part of the product and are traceable to it. For example, the ice cream in an ice cream cone - Correct Answer Direct materials
M...
WGU C213 Focused on internal and A
Level Marking Scheme Latest
2024/2025
Produce products for resale - Correct Answer Manufacturing
company
Materials that become part of the product and are traceable to it.
For example, the ice cream in an ice cream cone - Correct
Answer Direct materials
Materials that are necessary to a manufacturing or service
business but are not directly included in or are not a significant
part of the actual product. For example, the cleaning supplies
used to clean the assembly line at night once it is shut down -
Correct Answer Indirect materials
Wages paid to those who physically work on direct materials to
transform them into a finished product and are traceable to
specific products. For example, the labor costs to assemble the
ice cream cones - Correct Answer Direct labor
Labor that is necessary to a manufacturing or service business
but is not directly related to the actual production of the product.
For example, the labor costs to clean up the assembly line at the
end of the day - Correct Answer Indirect labor
All costs incurred in the manufacturing process other than direct
materials and direct labor to include indirect materials and labor
, and any other costs associated with the manufacturing facility.
For example, the depreciation on the manufacturing facility.
These costs are usually indicated with the term factory,
manufacturing, or production - Correct Answer Manufacturing
overhead
Future costs that change as a result of a decision; also called
incremental or relevant costs. For example, if you are going to
buy a new car, the difference between your current insurance
premiums and the new insurance premiums - Correct Answer
Differential costs
Costs that are past costs and do not change as a result of a
future decision. For example if a business is buying a new piece
of equipment, the depreciation expenses on the old equipment
would be __ and not recoverable - Correct Answer Sunk costs
The benefits lost or forfeited as a result of selecting one
alternative course of action over another. For example, if you pay
cash for your new cash, you give up the opportunity to use the
cash to pay for a vacation - Correct Answer Opportunity costs
Vary in total proportionately to the number of units sold.
However, the variable cost per unit sold is fixed within a relevant
range - Correct Answer Variable costs
Stay the same in total as units sold changes. However, because
the total fixed costs stay the same, the per-unit fixed costs must
vary inversely with units sold. That is, if you sell one more unit
and the total fixed costs stay the same, the per-unit fixed costs
must fall because you are spreading the same fixed costs over
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 KieranKent55. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
