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MCQs

Total Questions : 195 | Page 17 of 20 pages
Question 161. To calculate fixed overhead flexible budget variance, an actual incurred cost is subtracted from
  1.    flexible budget amount
  2.    constant amount
  3.    variable amount
  4.    production amount
 Discuss Question
Answer: Option A. -> flexible budget amount
Answer: (a).flexible budget amount
Question 162. The first step in developing cost rate for budgeted variable overhead is to
  1.    choose the budgeting period
  2.    select allocation bases
  3.    identify variable overhead cost
  4.    compute the per unit rate
 Discuss Question
Answer: Option A. -> choose the budgeting period
Answer: (a).choose the budgeting period
Question 163. In overhead cost variance analysis, the fixed overhead does not include
  1.    efficiency variance
  2.    unfavorable variance
  3.    production volume variance
  4.    favorable variance
 Discuss Question
Answer: Option A. -> efficiency variance
Answer: (a).efficiency variance
Question 164. If fixed overhead allocated for actual output units is $25000 and the production volume variance is $9000, then budgeted fixed overhead will be
  1.    $34,000
  2.    $24,000
  3.    $16,000
  4.    $18,000
 Discuss Question
Answer: Option A. -> $34,000
Answer: (a).$34,000
Question 165. If an actual variable quantity is 70, the actual and budgeted overhead cost of allocation is $8650 and $3500 respectively, then the variable overhead spending variance will be
  1.    $660,500
  2.    $560,500
  3.    $460,500
  4.    $360,500
 Discuss Question
Answer: Option D. -> $360,500
Answer: (d).$360,500
Question 166. The variance is the stated difference between expected performance and the
  1.    revenue planning
  2.    actual results
  3.    marketing results
  4.    cost planning
 Discuss Question
Answer: Option B. -> actual results
Answer: (b).actual results
Question 167. The difference between actual input variance and the budgeted input variance is called
  1.    price variance
  2.    actual output price
  3.    budgeted output price
  4.    actual selling price
 Discuss Question
Answer: Option A. -> price variance
Answer: (a).price variance
Question 168. A costing system, which focuses on individual activities as the particular cost object is classified as
  1.    activity based costing
  2.    improved costing
  3.    learned improvements
  4.    positive effectiveness
 Discuss Question
Answer: Option A. -> activity based costing
Answer: (a).activity based costing
Question 169. The performance is evaluated only on the basis of price variance, if the performance evaluation is
  1.    positive
  2.    negative
  3.    zero
  4.    one
 Discuss Question
Answer: Option A. -> positive
Answer: (a).positive
Question 170. An efficiency variance is 200 units and the actual input quantity is 500 units, then the budgeted input quantity will be
  1.    300 units
  2.    700 units
  3.    800 units
  4.    500 units
 Discuss Question
Answer: Option A. -> 300 units
Answer: (a).300 units

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