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WGU UFC 1 Managerial Accounting Pre-assessment Questions With 100- Correct Answers_.pdf
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9/3/24, 5:01 PMWGU UFC 1 Managerial Accounting Pre-assessment
Jeremiah
Terms in this set (55)
Which Feature of managerial accounting It generates detailed information on product cost.
improves a company's ability to plan and
control operations?
Which statement describes period costs? They flow directly to the current income statement as expenses.
A company has the following costs $100.
associated with a job:
Direct materials: $400
Direct labor: $450
Work in process: $950
Revenue from job: $1,450
What is the amount of overhead applied to
this job?
Management wants to assess how many Fixed and variable.
units must be sold to earn a profit.
The most useful analysis will separate costs
into which categories?
A manufacturing company budgeted for Over-applied by $9,000.
$1,240,000 in manufacturing overhead and
expected 400,000 direct labor hours. Actual
overhead was $1,200,000, and actual direct
labor hours were 390,000.
Was manufacturing overhead over - or
under-applied and by how much?
1/12
, 9/3/24, 5:01 PM
Cost of goods manufactured equals $87,000 $93,000.
for the year. Finished goods inventory is
$10,000 at the beginning of the year and
$4,000 at the end of the year. Beginning and
ending work in process are $4,000 and
$5,000, respectively.
How much is cost of goods sold for the
year?
The following information relates to a $24.44 per direct labor hour.
company's production activities for the
month of October:
Estimated cost of direct labor: $18,500
Estimated cost of manufacturing overhead:
$22,000
Estimated direct labor hours: 900
Actual cost of direct labor: $19,000
Actual cost of manufacturing overhead:
$24,000
Actual direct labor hours: 920
Using direct labor hours as the allocation
base, what is the predetermined overhead
rate?
The following amounts were reported by a $682,000.
company before adjusting its over-applied
manufacturing overhead of $48,000:
Cost of goods sold: $730,000
Applied overhead: $368,000
Actual overhead: $320,000
What is the company's adjusted cost of
goods sold?
The manufacturing operations of a company $926,000.
had the following balances for the year:
Beginning raw materials: $84,000
Beginning work in process: $45,000
Beginning finished goods: $28,000
Ending raw materials: $91,000
Ending work in process: $59,000
Ending finished goods: $23,000
The company transferred $918,000 of
completed goods out of work in process
during the year. The overhead is under-
applied by $3,000.
What is the adjusted cost of goods sold for
the year?
WGU UFC 1 Managerial Accounting Pre-assessment
2/12
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