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MCQs

Total Questions : 107 | Page 5 of 11 pages
Question 41. In normal costing, an actual quantity of cost allocation used base is multiplied to budgeted fixed overhead rates to calculate the
  1.    indirect manufacturing overhead cost
  2.    direct manufacturing overhead cost
  3.    fixed manufacturing overhead cost
  4.    variable manufacturing overhead cost
 Discuss Question
Answer: Option C. -> fixed manufacturing overhead cost
Answer: (c).fixed manufacturing overhead cost
Question 42. The total capacity of producing output, while operating at full efficiency is known as
  1.    standard capacity
  2.    actual capacity
  3.    normal capacity
  4.    theoretical costing
 Discuss Question
Answer: Option D. -> theoretical costing
Answer: (d).theoretical costing
Question 43. An approach used for choosing capacity level, having no beginning inventory, is classified as
  1.    write off variance approach
  2.    write in variance approach
  3.    adjusted variance approach
  4.    unadjusted variance approach
 Discuss Question
Answer: Option A. -> write off variance approach
Answer: (a).write off variance approach
Question 44. If the inventory level decreases then operating income, under variable costing, will be reported
  1.    more
  2.    less
  3.    zero
  4.    none of above
 Discuss Question
Answer: Option A. -> more
Answer: (a).more
Question 45. If the production is less than sales so, an operating income under absorption costing will be called
  1.    higher income
  2.    zero dividends
  3.    negative income value
  4.    lower income
 Discuss Question
Answer: Option D. -> lower income
Answer: (d).lower income
Question 46. Under absorption costing, the magnitude for favorable volume production variance is affected by the choice of
  1.    unplanned level
  2.    budgeting level
  3.    numerator level
  4.    denominator level
 Discuss Question
Answer: Option D. -> denominator level
Answer: (d).denominator level
Question 47. If the budgeted fixed cost is $26000, per unit budgeted denominator level is 1300 units, then budgeted fixed cost will be
  1.    $50
  2.    $30
  3.    $20
  4.    $40
 Discuss Question
Answer: Option C. -> $20
Answer: (c).$20
Question 48. The production volume variance under absorption costing
  1.    must be inventoriable
  2.    must exist
  3.    must not exist
  4.    non-inventoriable
 Discuss Question
Answer: Option C. -> must not exist
Answer: (c).must not exist
Question 49. The selling price minus variable manufacturing cost per unit, minus variable marketing cost per unit is equal to
  1.    fixed margin per unit
  2.    variable margin per unit
  3.    contribution margin per batch
  4.    contribution margin per unit
 Discuss Question
Answer: Option D. -> contribution margin per unit
Answer: (d).contribution margin per unit
Question 50. If the contribution margin per unit is $12300 and the change in sold quantity of units is 50, then change in variable costing operating income will be
  1.    $315,000
  2.    $415,000
  3.    $615,000
  4.    $515,000
 Discuss Question
Answer: Option C. -> $615,000
Answer: (c).$615,000

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