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MCQs

Total Questions : 56 | Page 4 of 6 pages
Question 31. Any output that has total positive sales is a
  1.    joint product
  2.    main product
  3.    product
  4.    all of above
 Discuss Question
Answer: Option D. -> all of above
Answer: (d).all of above
Question 32. The difference between actual result and corresponding amount of flexible budget, on the basis of actual level of output is classified as
  1.    sales mix variance
  2.    sales volume variance
  3.    flexible budget variance
  4.    static budget variance
 Discuss Question
Answer: Option C. -> flexible budget variance
Answer: (c).flexible budget variance
Question 33. In corporate costs, the costs incur for employee recruitment, development and training are classified as
  1.    discretionary costs
  2.    human resource management costs
  3.    corporate administration costs
  4.    treasury costs
 Discuss Question
Answer: Option B. -> human resource management costs
Answer: (b).human resource management costs
Question 34. In customer cost hierarchy, the cost of activities related to specific channel of distribution is classified as
  1.    discretionary channel costs
  2.    corporate-sustaining costs
  3.    distribution-channel costs
  4.    engineered resource costs
 Discuss Question
Answer: Option C. -> distribution-channel costs
Answer: (c).distribution-channel costs
Question 35. The difference between corresponding static budget and flexible budget amount is called
  1.    sales volume variance
  2.    sales mix variance
  3.    sales quantity variance
  4.    market share variance
 Discuss Question
Answer: Option A. -> sales volume variance
Answer: (a).sales volume variance
Question 36. If the static budget amount is $6200 and the flexible budget amount is $4500, then the sales volume variance will be
  1.    $6,200
  2.    $1,700
  3.    $17,000
  4.    $4,500
 Discuss Question
Answer: Option B. -> $1,700
Answer: (b).$1,700
Question 37. The costs incurred in production process that yield range of products simultaneously are known as
  1.    separable costs
  2.    joint costs
  3.    main costs
  4.    split off costs
 Discuss Question
Answer: Option B. -> joint costs
Answer: (b).joint costs
Question 38. The approaches used to allocate joint costs include
  1.    sales value at split off method
  2.    net realizable value method
  3.    constant gross margin percentage NRV method
  4.    all of above
 Discuss Question
Answer: Option D. -> all of above
Answer: (d).all of above
Question 39. If the percentage of overall gross margin is 15 and the final sales value of whole production is $20000, then the gross margin (in dollars) will be
  1.    $30,000
  2.    $300,000
  3.    $40,000
  4.    $400,000
 Discuss Question
Answer: Option B. -> $300,000
Answer: (b).$300,000
Question 40. The final sales is subtracted from net realizable value is used to calculate
  1.    separable costs
  2.    inseparable costs
  3.    joint costs
  4.    floating costs
 Discuss Question
Answer: Option A. -> separable costs
Answer: (a).separable costs

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