Q.1
Budget, which highlights difference between actual quantity and budgeted quantity is termed as
Q.2
A company must eliminate all those activities that do not add value to all products or services in planning of
Q.3
Difference between actual variable overhead cost and flexible budget variable overhead amount is termed as
Q.4
Costing technique, which traces direct costs by multiplying price rate for producing actual outputs is known as
Q.5
If current assets are $250000 and current liabilities are $135500, then working capital would be
Q.6
Determined price at which company expects to pay for every single unit is called
Q.7
If actual result is $65000 and static budget variance is $35000, then static budget amount will be
Q.8
If flexible budget amount is $40000 and variable overhead flexible budget variance is $25000, then actual costs incur will be
Q.9
Flexible budget amount is added in to variable overhead flexible budget variance to calculate
Q.10
In standard costing, standard quantity allocation is multiplied to standard overhead rates for allocating
Q.11
Static budget variance for operating income is added in to static budget amount to calculate
Q.12
In management control, point of reference for making comparisons of performance is
Q.13
If budgeted input quantity is 350 units and efficiency variance is 100, then an actual input quantity will be
Q.14
If budgeted input price is $80 and price variance is $40, then an actual price will be
Q.15
An energy, machine maintenance, indirect materials and engineering support are considered as
Q.16
If an actual result is $250000 and static budget amount is $150000, then static budget variance for operating income will be
Q.17
Master budget, which is based on planned output level at start of budget period is considered as
Q.18
An actual cost is subtracted from flexible budget cost to calculate
Q.19
Difference between an actual budget and corresponding amount in static budget is classified as
Q.20
Consideration of increased operating income relative to budgeted amount is classified as
Q.21
If an actual price of material is $700 and budgeted price is $900, then the
Q.22
In budget hierarchy, material handling cost is
Q.23
If actual payment to labour is $1200 and budgeted rate is $1000, then labour price variance would be
Q.24
If price variance is $20 and budgeted input price is $70, then an actual price will be
Q.25
An unfavourable variance in static budget is also known as
Q.26
Price variance for direct manufacturing labour is referred as
Q.27
If input used in manufacturing is smaller in quantity and output produced is greater in quantity, this will be categorized under
Q.28
If an actual input price is $70 and budgeted input price is $40, then price variance will be
Q.29
If an actual result is $50000 and static budget variance is $25000, then static budget amount will be
Q.30
In costing and budgeting hierarchy, an example of product sustaining cost is
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