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Quiz 8
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Q.1
Point at which control functions and planning of management come together is known as
functioning
variance
variation
deviation
Q.2
Difference between actual quantity use and input quantity for output is multiplied with budgeted price to calculate
efficiency deviation
efficiency variance
budgeted variance
usage variance
Q.3
In management control, an efficiency variance is also referred as
control variance
uncontrolled variance
usage variance
effective variance
Q.4
If an efficiency variance is 200 units and actual input quantity is 750 units, then budgeted input quantity will be
275 units
125 units
550 units
650 units
Q.5
An expected performance of company is also known as
price requirements
supply requirements
budgeted performance
demand requirements
Q.6
If price variance is $30 and budgeted input price is $80, then an actual price would be
-$110
-$50
$110
$50
Q.7
If static budget variance is $46000 and static budget amount is $15000, then an actual result would be
$80,000
$71,000
$61,000
$31,000
Q.8
If actual price input is $500, budgeted price of input is $300 and actual quantity of input is 50 units, then price variance would be
$4,000
$6,000
$8,000
$10,000
Q.9
Actual price of material is less than budgeted price, this means that
price variance is favourable
price variance is unfavourable
cost variance is favourable
cost variance is unfavourable
Q.10
An actual rate paid to labour is greater than budgeted rate, it means that the
cost is unfavourable
variance is unfavourable
variance is favourable
cost is favourable
Q.11
Flexible budget variance is subtracted from actual cost to calculate
flexible budget cost
flexible investment cost
static budget cost
static variable cost
Q.12
An efficiency variance is subtracted from actual input quantity to calculate
budgeted input quantity
actual quantity manufactured
budgeted quantity manufactures
budgeted quantity sold
Q.13
If budgeted price of input is $70, actual quantity of input is 250 units and allowed budgeted quantity of input is 90 units, then efficiency variance will be
$23,800
$11,200
$12,200
$13,200
Q.14
Budgeted input quantity is added in to efficiency variance to calculate
actual input quantity
actual output quantity
actual input price
actual output price
Q.15
If flexible budget variance is $95000 and an actual cost is $40000, then flexible budget cost would be
$135,000
$45,000
$50,000
$55,000
Q.16
If a company uses large quantity of input than budgeted quantity for output level, then company is known to be
variable growth of company
constant growth of company
company is inefficient
company is efficient
Q.17
Static budget amount is subtracted from actual result to calculate
static budget receipts
static budget deviation
static budget variance
multiple budget variance
Q.18
In cost accounting, goal of variance analysis is to
understand variance reason
improve future performance
learning of improvement
all of above
Q.19
A costing system, which focuses on individual activities as particular cost object is classified as
activity based costing
improved costing
learned improvements
positive effectiveness
Q.20
Gross margin is added to cost of sold goods to calculate
revenues
selling price
unit price
bundle price
Q.21
Type of distribution, which describes whether events to be occurred are mutually exclusive or collectively exhaustive can be classified as
mutual distribution
probability distribution
collective distribution
marginal distribution
Q.22
If fixed cost is $30000 and contribution margin per unit is $600 per unit, then breakeven in units will be
50 units
60 units
70 units
65 units
Q.23
If contribution margin per unit is $500 and contribution margin percentage is 25%, then selling price will be
$2,000
$5,250
$4,280
$3,860
Q.24
If contribution margin percentage is 20% and selling price is $4000, then contribution margin per unit will be
$200
$400
$600
$800
Q.25
Difference between actual input variance and budgeted input variance is called
price variance
actual output price
budgeted output price
actual selling price
Q.26
An efficiency variance is 200 units and actual input quantity is 500 units, then budgeted input quantity will be
300 units
700 units
800 units
500 units
Q.27
Performance is evaluated only on basis of price variance, if performance evaluation is
positive
negative
zero
one
Q.28
Fixed cost is divided by break-even revenues to calculate
cost margin
fixed margin
revenue margin
contribution margin
Q.29
If gross margin is $2000 and revenue is $5000, then cost of goods sold would be
-$8000
$3,000
-$3000
$8,000
Q.30
Fixed cost is added to target operating income and then divided to contribute margin per unit to calculate
quantity of units required to sold
selling of units
sold units
contributed units
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