WGU D101 Cost and Managerial Accounting Exam with complete verified solutions

WGU D101 Cost and Managerial Accounting Exam with complete verified solutions

Actual Manufacturing Overhead - answer Manufacturing costs other than direct materials and direct
labor
Applied Manufacturing Overhead - answer The amount of the manufacturing overhead that is assigned
to the goods produced; this is usually done by using a predetermined annual overhead rate
Batch-level Activities - answer Activities that take place to support a batch or production run, regardless
of the size of the batch
Beginning Work-in-process Inventory - answer The ending-work-in-process inventory that is carried over
from the last accounting period to the current accounting period
Break-even Point - answer The amount of sales at which total costs of the number of units sold equal
total revenues; the point at which there is no profit or loss
Budgeted Production in Units - answer The budgeted number of units to be produced in a period, taking
into consideration the sales volume, the number of units in beginning inventory, and the number of
units required to be in ending inventory
Budgeted Sales in Dollars - answer The result when the budgeted sales in units is multiplied by the unit
sales prices for each product budgeted to be sold in the budget for the next year or the next period
Budgeted Sales in Units - answer Information in the sales budget that feeds directly into the production
budget, from which the direct materials and direct labor budgets are created
Common Costs - answer Overhead costs like executive salaries or property taxes that cannot be
attributed to and are not the responsibility of specific products, departments, or business segments