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MCQs

Total Questions : 195 | Page 6 of 20 pages
Question 51. If an actual result is $50000 and the static budget variance is $25000, then the static budget amount will be
  1.    $75,000
  2.    $25,000
  3.    $35,000
  4.    $45,000
 Discuss Question
Answer: Option B. -> $25,000
Answer: (b).$25,000
Question 52. If the actual price input is $500, the budgeted price of input is $300 and the actual quantity of input is 50 units, then the price variance would be
  1.    $4,000
  2.    $6,000
  3.    $8,000
  4.    $10,000
 Discuss Question
Answer: Option D. -> $10,000
Answer: (d).$10,000
Question 53. If an actual result is $250000 and the static budget amount is $150000, then the static budget variance for operating income will be
  1.    $400,000
  2.    $500,000
  3.    $100,000
  4.    $600,000
 Discuss Question
Answer: Option C. -> $100,000
Answer: (c).$100,000
Question 54. The price variance for direct manufacturing labor is referred as
  1.    direct variance
  2.    rate variance
  3.    labor variance
  4.    manufacturing variance
 Discuss Question
Answer: Option B. -> rate variance
Answer: (b).rate variance
Question 55. The master budget, which is based on the planned output level at the start of budget period is considered as
  1.    static budget
  2.    varied budget
  3.    marketing budget
  4.    methodological budget
 Discuss Question
Answer: Option A. -> static budget
Answer: (a).static budget
Question 56. The consideration of increased operating income relative to budgeted amount is classified as
  1.    favorable variance
  2.    unfavorable variance
  3.    revenue variance
  4.    cost variance
 Discuss Question
Answer: Option A. -> favorable variance
Answer: (a).favorable variance
Question 57. If the actual input quantity is 300 units and the budgeted input quantity is 100 units, then the efficiency variance will be
  1.    600 units
  2.    200 units
  3.    400 units
  4.    500 units
 Discuss Question
Answer: Option B. -> 200 units
Answer: (b).200 units
Question 58. If the static budget variance is $38000 and the static budget amount is $12000, then an actual result would be
  1.    $36,000
  2.    $60,000
  3.    $26,000
  4.    $50,000
 Discuss Question
Answer: Option D. -> $50,000
Answer: (d).$50,000
Question 59. If an actual price of material is $700 and the budgeted price is $900, then the
  1.    cost variance is favorable
  2.    cost variance is unfavorable
  3.    price variance is favorable
  4.    price variance is unfavorable
 Discuss Question
Answer: Option C. -> price variance is favorable
Answer: (c).price variance is favorable
Question 60. In costing and budgeting hierarchy, an example of product sustaining cost is
  1.    initial offering cost
  2.    batch marketing cost
  3.    product marketing cost
  4.    product design cost
 Discuss Question
Answer: Option D. -> product design cost
Answer: (d).product design cost

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