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WGU D196 Principles of Financial and Managerial Accounting Practice Test Exam 200 Questions and Verified Rationalized Answers 100% Graded A+ $16.99
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WGU D196 Principles of Financial and Managerial Accounting Practice Test Exam 200 Questions and Verified Rationalized Answers 100% Graded A+

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WGU D196 practice test Principles of Financial and Managerial Accounting exam WGU D196 exam questions D196 accounting practice questions Financial accounting test prep Managerial accounting study guide WGU D196 test prep Rationalized answers for accounting exam WGU accounting practice test ...

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  • 21 de diciembre de 2024
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WGU D196 Principles of Financial and Managerial Accounting
Practice Test Exam 200 Questions and Verified Rationalized Answers
100% Graded A+



1. Manufacturing Overhead Budget: Which budget should include all productioncost
f f f f f f f f f




s other than those for direct materials and direct labor?
f f f f f f f f f




2. Accounts receivable: Which account is a common asset account?
f f f f f f f f




3. Balance Sheet: On which financial statement would you see the valuation of acom
f f f f f f f f f f f f f




pany's asset account?f f




4. Preparing Reports: What is the final step in the accounting cycle?
f f f f f f f f f f




5. Preparing financial statements: Which of the following is not an example of atrans
f f f f f f f f f f f f f




action?

6. Statement of Cash Flows: On which financial statement would you see cashflow
f f f f f f f f f f f f




s from financing activities?
f f f




7. SEC: Whose job is it to make sure that investors are provided with full and fairinfor
f f f f f f f f f f f f f f f f




mation about publicly traded companies?
f f f f




8. It distinguishes between current and long-
f f f f f




term assets.: How does a classifiedbalance sheet provide useful information to a decisi
f f f f f f f f f f f f f




on maker?
f

1f/f18

,9. Uncontrollable costs should not be included in the performance evaluationmea f f f f f f f f f f




sure of a profit center manager.: In some companies, the performance mea-
f f f f f f f f f f f




sure for profit center managers is heavily influenced by cost allocations downwardsfro
f f f f f f f f f f f f f




m organizational units (such as company headquarters).Why is this a mistake?
f f f f f f f f f f f




10. Raw materials to make a product.: Which is an examples of a product cost?
f f f f f f f f f f f f f




11. Manufacturing Overhead: Which label is given to the cost of wages for factorysuper f f f f f f f f f f f f f




visors?

12. 60%: A company reports the following data:
f f f f f f




Price/unit = $20 f f




Variable costs/unit = $12F f f f f




ixed costs = $12,000
f f f




Given this data, what is the variable cost ratio?
f f f f f f f f




13. Actual costs exceed applied costs.: If overhead is underapplied, which state-
f f f f f f f f f f




ment is true?
f f f




14. Selling costs: Which of the following is NOT an example of a cost driver?
f f f f f f f f f f f f f




15. Marketing expense: Which item is a period cost? f f f f f f f




16. Process Costing: Which overhead allocation method should be used for a trashbag
f f f f f f f f f f f f f




manufacturer?
2f/f18

,17. Variable Costs: For the relevant range, which costs are approximately linearwithi
f f f f f f f f f f f




n a certain range of production?
f f f f f




18. Cost-Volume-Profit Analysis: Which of the following focuses on how a compa-
f f f f f f f f f f




ny's activity levels impact profits?
f f f f f




19. Job Order Costing: Which overhead allocation method should be used for anauto
f f f f f f f f f f f f




mobile repair shop?
f f




3f/f18

, 20. Factory supervisor wages, security guard wages, maintenance staffwag
f f f f f f f f




es: What are examples of indirect labor?
f f f f f f




21. The grease used on machines that manufacture products: What is an exam-
f f f f f f f f f f f




ple of an indirect material?
f f f f f




22. Income taxes: Which of the following is NOT an operating expensef f f f f f f f f f




23. $175,000: A company reports the following data: f f f f f f




Total sales rev = $275,000
f f f f




Number of units sold = 25,000 unitsV f f f f f f f




ariable costs = $100,00 f f f




If the company is operating at its break-
f f f f f f f




even points, what is the company's totalcontribution margin?
f f f f f f f f




24. As an expense: How are period costs reported on an income statement?
f f f f f f f f f f f




25. Advertising costs: Which item in an example of a controllable cost? f f f f f f f f f f




26. Assets increases; Liability increases: A company purchases equipment witha not
f f f f f f f f f f




e payable. f




How does this transaction affect the paying company's accounting equation?
f f f f f f f f f




27. Increase expense: What is the impact of paying employee wages on the ac-
f f f f f f f f f f f f




4f/f18

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