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MCQs

Total Questions : 195 | Page 3 of 20 pages
Question 21. If the budgeted total cost in fixed overhead is $465200 and the budgeted total quantity is $8750, then budgeted fixed overhead cost per unit will be
  1.    $83.17
  2.    $73.17
  3.    $53.17
  4.    $63.17
 Discuss Question
Answer: Option C. -> $53.17
Answer: (c).$53.17
Question 22. Of the cost allocation base, the difference between actual and budgeted variable overhead cost multiplied by actual quantity for actual output is classified as
  1.    variable overhead spending variance
  2.    fixed overhead spending variance
  3.    constant spending variance
  4.    potential spending variance
 Discuss Question
Answer: Option A. -> variable overhead spending variance
Answer: (a).variable overhead spending variance
Question 23. The budgeted quantity of output unit is 250 and budgeted overhead fixed cost is $150, then budgeted fixed overhead output unit will be
  1.    $67,500
  2.    $57,500
  3.    $47,500
  4.    $37,500
 Discuss Question
Answer: Option D. -> $37,500
Answer: (d).$37,500
Question 24. If the fixed overhead allocated for actual output unit is $9800 and budgeted fixed overhead is $22000, then production volume variance would be
  1.    $31,800
  2.    $12,300
  3.    $12,200
  4.    $41,800
 Discuss Question
Answer: Option C. -> $12,200
Answer: (c).$12,200
Question 25. The variance is solely because of the difference between budgeted quantity and the
  1.    flexible hours
  2.    actual cost
  3.    actual quantity
  4.    actual price
 Discuss Question
Answer: Option C. -> actual quantity
Answer: (c).actual quantity
Question 26. The second step in developing operating budget is to
  1.    identify variable overhead cost
  2.    compute the per unit rate
  3.    choose the budgeting period
  4.    select allocation bases
 Discuss Question
Answer: Option D. -> select allocation bases
Answer: (d).select allocation bases
Question 27. Usage of more resources to develop fundamental standards is classified as
  1.    potential budget response
  2.    potential management response
  3.    potential price response
  4.    potential cost response
 Discuss Question
Answer: Option B. -> potential management response
Answer: (b).potential management response
Question 28. If the cost of indirect support labor is $5000, equipment maintenance setup cost is $7000 and machinery leasing cost is $4000 then variable fixed cost will be
  1.    $16,000
  2.    $12,000
  3.    $18,000
  4.    $21,000
 Discuss Question
Answer: Option B. -> $12,000
Answer: (b).$12,000
Question 29. The fixed overhead allocated for actual output unit is subtracted from budgeted fixed overhead to calculate
  1.    budget variance
  2.    production volume variance
  3.    price volume variance
  4.    cost volume variance
 Discuss Question
Answer: Option B. -> production volume variance
Answer: (b).production volume variance
Question 30. The flexible budget amount is added in to fixed overhead flexible budget variance to calculate
  1.    incurred manufacturing
  2.    incurred production cost
  3.    actual incurred cost
  4.    incurred labor cost
 Discuss Question
Answer: Option C. -> actual incurred cost
Answer: (c).actual incurred cost

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