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MCQs

Total Questions : 195 | Page 5 of 20 pages
Question 41. The budget which is planned around a single output level is called
  1.    marketing budget
  2.    methodological budget
  3.    static budget
  4.    varied budget
 Discuss Question
Answer: Option C. -> static budget
Answer: (c).static budget
Question 42. If the flexible budget variance is $95000 and an actual cost is $40000, then the flexible budget cost would be
  1.    $135,000
  2.    $45,000
  3.    $50,000
  4.    $55,000
 Discuss Question
Answer: Option D. -> $55,000
Answer: (d).$55,000
Question 43. An actual rate paid to labor is greater than the budgeted rate, it means that the
  1.    cost is unfavorable
  2.    variance is unfavorable
  3.    variance is favorable
  4.    cost is favorable
 Discuss Question
Answer: Option B. -> variance is unfavorable
Answer: (b).variance is unfavorable
Question 44. The actual price of material is less than budgeted price, this means that
  1.    price variance is favorable
  2.    price variance is unfavorable
  3.    cost variance is favorable
  4.    cost variance is unfavorable
 Discuss Question
Answer: Option A. -> price variance is favorable
Answer: (a).price variance is favorable
Question 45. If a company uses large quantity of input than the budgeted quantity for output level, then the company is known to be
  1.    variable growth of company
  2.    constant growth of company
  3.    company is inefficient
  4.    company is efficient
 Discuss Question
Answer: Option C. -> company is inefficient
Answer: (c).company is inefficient
Question 46. If the budgeted price of input is $50, actual quantity of input is 150 units and the allowed budgeted quantity of input is 60 units then efficiency variance will be
  1.    $4,500
  2.    $3,500
  3.    $2,500
  4.    $1,500
 Discuss Question
Answer: Option A. -> $4,500
Answer: (a).$4,500
Question 47. An actual cost is subtracted from flexible budget cost to calculate
  1.    positive cost variance
  2.    negative cost variance
  3.    flexible budget variance
  4.    flexible cost variance
 Discuss Question
Answer: Option C. -> flexible budget variance
Answer: (c).flexible budget variance
Question 48. An efficiency variance is subtracted from actual input quantity to calculate
  1.    actual quantity manufactured
  2.    budgeted quantity manufactures
  3.    budgeted quantity sold
  4.    budgeted input quantity
 Discuss Question
Answer: Option D. -> budgeted input quantity
Answer: (d).budgeted input quantity
Question 49. If an actual input price is $70 and the budgeted input price is $40, then the price variance will be
  1.    $120
  2.    $50
  3.    $110
  4.    $30
 Discuss Question
Answer: Option D. -> $30
Answer: (d).$30
Question 50. The difference between an actual budget and the corresponding amount in static budget is classified as
  1.    correspondent budget
  2.    full budget variance
  3.    methodology variance
  4.    static budget variance
 Discuss Question
Answer: Option D. -> static budget variance
Answer: (d).static budget variance

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