Yes, it's possible. Simply use the same table for creating both dimensions and cubes (measure groups). It's not ideal to do it like this for production, but you should be fine for prototyping.
Another alternative I always use in situations like this, create SQL views on top of the wide table to mimic the dimension and facts (dimensional model). And use views in the data source view. If you've time you can spend on creating the views, this is the best method. Because at the end of the prototype you know the model and functionality is working, and you just need to create physical data warehouse and ETL when you're ready to implement in production.