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WGU D196 Objective Assessment Final Exam Version 2 Newest 2025-2026 Complete All 200 Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+||Brand New Version!
Projecting accurate sales is very difficult because sales are a function of both uncontrollable external variables and controllable internal variables. Which variable below is an uncontrollable external variable? - ANSWER-Customer tastes
There are three important factors to be considered in preparing a production budget. Which item below is one of those factors? - ANSWER-Desired amount of ending inventory
What label is given to a business unit in which the manager is responsible for costs, revenues, and assets? - ANSWER-Investment center
On September 30 of Year 1, Burt Company had finished goods inventory of 1,000 units. Starting in October, Burt intends to have an inventory policy of maintaining ending inventory at the end of every month equal to the next month's sales. 1 / 4
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What additional information is needed in order to compute budgeted production for Burt Company for October? - ANSWER-Projected sales
What are the factors the CFO should consider in forecasting next month's purchases? - ANSWER-Production needs, desired ending inventory, and amount of beginning inventory
Scott Pippen is the manager of Segment A in Chicago Company.Segment A is a profit center. Which two things should be used in developing a performance evaluation measure of Scott Pippen? - ANSWER-Revenues and controllable costs
Which statement about managerial accounting data is true? - ANSWER- Managerial accounting data are created based on competitive needs that are unique to the organization.
Which characteristic is a unique feature of management accounting information? - ANSWER-Management accounting information is composed of both financial and nonfinancial data.
Which group represents the primary users of managerial accounting information? - ANSWER-Managers
Company managers are important users of managerial accounting information. What are the three primary functions of company managers? - ANSWER-Planning, controlling, and evaluating 2 / 4
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Which statement correctly distinguishes the uses of financial accounting information from the uses of managerial accounting information? - ANSWER-Financial accounting information is prepared according to a generally accepted set of rules.
Which activity involves the process of tracking the actual performance of a company? - ANSWER-Controlling - means tracking the actual performance of a company.
What does long-run planning include? - ANSWER-Strategic planning and capital budgeting
Which type of business is a typical retailer? - ANSWER-Merchandising business
Which types of costs does a merchandiser have? - ANSWER-Both product and period costs
Which types of costs does a manufacturer have? - ANSWER-Both product and period costs
Which type of business purchases finished goods for resale? - ANSWER-Merchandising 3 / 4
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A merchandising business purchases inventory from suppliers for resale to customers.
Which statement identifies a difference between managerial and financial accounting? - ANSWER-Managerial accounting has substantial competitive value, while financial accounting is not a competitive tool.
What is a characteristic of managerial accounting systems that is not also a characteristic of financial accounting systems? - ANSWER-Managerial accounting includes budget and forecast data.
What is the sequence of the flow of costs through a manufacturing operation? - ANSWER-Purchase raw materials, transfer raw materials to production, add direct labor and manufacturing overhead costs, transfer the cost of completed goods to finished goods inventory, sell goods and transfer cost to cost of goods sold.
What costs are included in manufacturing overhead? - ANSWER-All manufacturing costs that are not classified as direct materials or direct labor
What is work-in-process inventory? - ANSWER-All material on the factory floor that is not yet completed
What type of cost are the wages paid to a factory supervisor? - ANSWER-Manufacturing overhead
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