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Quiz 11
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Q.1
An assignment of task for managers, who are accountable for their actions in controlling and budgeting of resources is classified as
coordinating company effort
action plan
action accountability
project accountability
Q.2
Manager who is responsible for investments of company, its costs and revenues is known as
profit center
investment center
cost center
revenue center
Q.3
If static budget amount is $6000 and flexible budget amount is $15000, then sales volume variance will be
$9,000
$8,000
$12,000
$21,000
Q.4
An approach in which company under-costs it's one product and over-costs at least one product is classified as
service-cost across subsidizing
product-price cross subsidizing
product-cost cross subsidizing
product cross subsidizing
Q.5
In an activity based costing implementation, product's diverse demand is based on
batch size
complexity
process steps
all of above
Q.6
Broad's average use to assign cost of revenue to cost objects will be classified as
refined costing system
refined selling system
undefined costing
defined selling system
Q.7
Costs of all activities for a group of products, rather than individual product can be classified as
activity level costs
input level costs
batch level costs
output level costs
Q.8
Number of units are 5000 and per unit price is $60, then flexible budget variable would be
$5,000,000
$3,000,000
$2,000,000
$1,000,000
Q.9
If flexible budget amount is $82000 and actual result is $45000 then flexible budget amount will be
$97,000
$87,000
$27,000
$37,000
Q.10
Difference between flexible budget amount and corresponding static budget amount is classified as
sales revenue variance
cost profit variance
profit volume variance
sales volume variance
Q.11
Difference between flexible budget amount and corresponding actual result is called
corresponding variance
resultant variance
flexible budget variance
static budget variance
Q.12
An actual selling price is subtracted from budgeted selling price, and then multiplied to actual sold units to calculate
profit variance
investment variance
cost variance
selling price variance
Q.13
If flexible budget amount is $62000 and an actual result is $35000, then flexible budget amount would be
$27,000
$37,000
$97,000
$87,000
Q.14
Flexible budget amount is added to flexible budget variance to calculate
static result
actual result
secondary result
primary result
Q.15
Factors that accelerate process of refining a costing system include
increase in product diversity
increase in indirect costs
product market competitions
all of above
Q.16
Cost pool category, which have similar cause and effect relationship, with each cost driver uses as an allocation base is classified as
heterogeneous price pool
homogenous cost pool
heterogeneous cost pool
homogenous price pool
Q.17
Budgeted total cost in indirect cost pool is divided by budgeted total quantity of cost allocation base is to calculate by
budgeted direct cost rate
budgeted indirect cost rate
expected indirect cost rate
direct budget percentage
Q.18
In an activity based cost system; an activity/unit of work or task with differentiated purposes will be classified as
different task
purpose cost
an activity
an allocation cost
Q.19
Product which requires low amount of resources, but incur high per unit cost is classified as
expected under cost
expected over cost
product under costing
product over costing
Q.20
In activity based costing system, description of activity can be classified as
activity list
activity dictionary
active purpose
both a and b
Q.21
If an actual selling price is $400, an actual result is $250 and an actual units sold are 500, then selling price variance will be
$45,000
$55,000
$75,000
$65,000
Q.22
If number of units are 3000 and per unit price is $500, then flexible budget variable will be
$1,500,000
$2,500,000
$3,500,000
$4,500,000
Q.23
Number of units are multiplied to per unit price, to calculate
multiple budget variable
fixed budget variable
flexible budget variable
constant budget
Q.24
Budget which calculates expected revenues and expected costs, based on actual output quantity is named as
flexible budget
fixed budget
variable budget
multiplied budget
Q.25
Flexible budget amount is $57000 and flexible budget variance is $14000, then actual result amount will be
$61,000
$71,000
$43,000
$24,000
Q.26
Static budget amount is subtracted from flexible budget amount to calculate the
sales budget variance
cost budget variance
resultant budget variance
static budget variance
Q.27
If sales budget variance is $57000 and flexible budget amount is $97000, then static budget amount will be
$40,000
$154,000
$164,000
$124,000
Q.28
In activity based costing method implementation, indirect costs are allocated by using the
no cost pool
One or two cost pools
sustained tracing
support tracing
Q.29
Costing system, in which individual activities are identified as cost object is considered as
manufactured costing
activity based costing
allocation costing
base costing
Q.30
Type of costs that cannot be traced for individual products but help in supporting an organization are classified as
individual sustaining costs
facility sustaining costs
sustained tracing
support tracing
Q.31
Costs of all activities for individual products or services can be called
purpose level costs
output-unit level costs
input-unit level costs
activity level costs
Q.32
If static budget amount is $9000, flexible budget amount is $20000, then sales volume variance will be
$29,000
$11,000
$15,000
$10,000
Q.33
If static budget is $208000 and flexible budget amount is $305000, then sales budget variance will be
$67,000
$97,000
$57,000
$47,000
Q.34
Chances of cost to be considered as variable are more, if the
time horizons are long
time horizons are short
time horizons are irrelevant
time horizons are relevant
Q.35
If actual result is $25000 and flexible budget amount is $11000, then flexible budget amount is
$36,000
$46,000
$56,000
$14,000
Q.36
If flexible budget amount is $27000 and flexible budget variance is $12000, then actual result amount would be
$27,000
$15,000
$39,000
$49,000
Q.37
Subtracted flexible budget amount can form an actual result to calculate
unstated budget variance
flexible budget variance
constant budget variance
static budget variance
Q.38
If sales budget variance for operating income is $68000 and static budget amount is $19000, then flexible budget amount will be
$47,000
$57,000
$87,000
$97,000
Q.39
Flexible budget variance for revenues of company is classified as
selling price variance
investment variance
profit variance
primary variance
Q.40
If actual selling price is $500, actual result is $250 and actual units sold are 350, then selling price variance will be
$87,500
$97,500
$67,500
$57,500
Q.41
If actual result is $26000, flexible budget amount is $13000, then flexible budget amount will be
$39,000
$49,000
$13,000
$15,000
Q.42
If budgeted cost in indirect cost pool is $139600 and total quantity of cost allocation base is $155600, then budgeted indirect cost rate would be
69.72%
79.72%
99.75%
89.72%
Q.43
Total cost of producing similar products divided by number of units produced is a technique known as
sale costing system
job costing system
price costing system
process costing system
Q.44
In normal costing, budgeted rate is multiplied to an actual quantity, which have been used as allocation base to calculate
budget overhead applied
manufacturing overhead applied
labour overhead applied
none of above
Q.45
If budgeted indirect cost base is $115 and budgeted cost allocation base is $830 per hour, then annual indirect cost (budgeted) will be
$93,450
$94,560
$96,450
$95,450
Q.46
If budgeted annual manufacturing indirect cost is $2250000 and cost allocation base is 2800 labour hour, then budgeted manufacturing overhead rate will be
$803.571 per labour hour
$805 per labour hour
$905 per labour hour
$802 per labour hour
Q.47
In a normal accounting period, allocated amount of indirect cost is $2000 and actual amount is $2200, then this is classified as
over allocated budget
under allocated budget
under allocated indirect cost
over allocated direct cost
Q.48
Sales budget variance is subtracted from flexible budget amount to calculate
static budget amount
unstated amount
constant amount
variable amount
Q.49
Considering relationship of variables, relationship in which activity cost is included in dependent variable, which has similar cost driver is classified as
heterogeneous relationship
extreme relationship
no homogeneous relationship
homogeneous relationship
Q.50
Method which considers lowest and highest values of cost driver and cost within relevant range is called
low high method
constant equation
variable equation
high low method
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