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MCQs

Total Questions : 56 | Page 5 of 6 pages
Question 41. The percentage of overall gross margin is multiplied to final sales value of products total production is used to calculate
  1.    Gross margin in terms of amount of money
  2.    Gross margin in terms of separable costs
  3.    Gross margin in terms of total cost
  4.    Gross margin in terms of labor cost
 Discuss Question
Answer: Option A. -> Gross margin in terms of amount of money
Answer: (a).Gross margin in terms of amount of money
Question 42. The difference between budgeted contribution margin for actual sales mix and budgeted sales mix is called
  1.    sales quantity variance
  2.    cost mix variance
  3.    volume mix variance
  4.    sales mix variance
 Discuss Question
Answer: Option D. -> sales mix variance
Answer: (d).sales mix variance
Question 43. If the sales volume variance is $8500 and the static budget amount is $2000, then the flexible budget amount would be
  1.    $6,500
  2.    $6,600
  3.    $6,700
  4.    $6,800
 Discuss Question
Answer: Option A. -> $6,500
Answer: (a).$6,500
Question 44. The executive salaries, rent and other general administration cost in corporate costs are classified under
  1.    human resource management costs
  2.    corporate administration costs
  3.    treasury costs
  4.    discretionary costs
 Discuss Question
Answer: Option B. -> corporate administration costs
Answer: (b).corporate administration costs
Question 45. The corporate sustaining costs and distribution channel costs are also classified as
  1.    indirect costs
  2.    variable costs
  3.    fixed costs
  4.    direct costs
 Discuss Question
Answer: Option C. -> fixed costs
Answer: (c).fixed costs
Question 46. The difference between static budget amount and the flexible budget amount is named as
  1.    sales mix variance
  2.    sales volume variance
  3.    flexible budget variance
  4.    static budget variance
 Discuss Question
Answer: Option B. -> sales volume variance
Answer: (b).sales volume variance
Question 47. If the budgeted contribution margin for budgeted and actual sales mix are $35000 and $27000, then the sales mix variance will be
  1.    $8,000
  2.    $80,000
  3.    $62,000
  4.    $35,000
 Discuss Question
Answer: Option A. -> $8,000
Answer: (a).$8,000
Question 48. In the static budget, the difference between corresponding budgeted amount and actual result is called
  1.    sales mix variance
  2.    sales volume variance
  3.    flexible budget variance
  4.    static budget variance
 Discuss Question
Answer: Option D. -> static budget variance
Answer: (d).static budget variance
Question 49. An analysis and reporting of revenues earned, and the incurred costs to earn these revenues from customers is classified as
  1.    partial productivity analysis
  2.    treasury cost analysis
  3.    customer profitability analysis
  4.    customer cost analysis
 Discuss Question
Answer: Option C. -> customer profitability analysis
Answer: (c).customer profitability analysis
Question 50. In corporate costs, the cost incurred to finance construction of new equipment are classified as
  1.    treasury costs
  2.    discretionary costs
  3.    human resource management costs
  4.    corporate administration costs
 Discuss Question
Answer: Option A. -> treasury costs
Answer: (a).treasury costs

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