Management Accounting Test Questions

Q.  __________ conveys detailed summary pertaining to various activities of the organization.

a. Master summary control report
b. Subsidiary summary control report
c. Interim summary control report
d. None of the above


ANSWER: See Answer
 
No explanation is available for this question!
MCQs:  Rahul has an amount of Rs 3,00,000 which is invested in a business. He desires 15% return on his fund. It is known from the past cost data analysis that fixed costs are Rs 1,50,000 per annum and variable costs of operation are 60% of sales. Determine sales volume to get 15% return. Also tell shut down point of the business, if he would spend Rs 50,000 even if business has to be closed.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  A facility, the installed capacity of which is 1,00,000 units, has budgeted 70% level of activity as Materials Rs 1,05,000, Wages Rs 1,40,000 Variable overheads Rs 70,000 and Fixed overheads Rs 20,000. Production is now proposed at 80,000 units. Determine Marginal cost p.u., Differential cost, and Differential cost p.u.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  As per Cash flow method Increase in current liabilities and decrease in current assets are
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  In cash flow method for preparing cash budget, payment of dividends and prepaid payments are
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Cash budget deals with historical data whereas Cash Flow Statement deals with future data.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Variable overhead variance is represented by expenditure variance only.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  If the actual output is more than the budgeted output, volume variance is
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  The capacity variance arises when
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Analysis of overhead variances can be done by
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Given budgeted output, number of working days, fixed overheads and variable overheads are 15,000 units, 25, Rs 30,000 and Rs 45,000 respectively. The actual output, number of working days, fixed overheads and variable overheads are 16,000 units, 27, Rs 30,500 and Rs 47,000, respectively. The increase in capacity is 5%. Determine variable overhead expenditure variance and fixed overhead variance, respectively.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  ABC Ltd is operating a system of standard costing with closing of books done every quarter. The budgeted overheads are Rs 2,55,000. Also, the overhead rate was pre-decided @ Rs 5.1 per labour hours and during a quarter actually used 52,000 labour hours, instead of 51,000 hours. The actual overheads resulted in a rate of Rs 4.9 per labour hours. What is volume variance?
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Sales margin variance due to volume can be classified into _____parts.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  The formula to estimate the sales margin variance due to sales mixture is
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Sales margin variance due to sales quantities is measured as
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  When actual price is higher or lower than the standard price, then it is
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  The corrective actions after the analysis of variances has to be taken by
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  The type of standard that is best suited for cost control objective is
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Volume variance arises when
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  There are three departments A, B and C in a company, The sales of A, B and C are Rs 3,52,000, Rs 2,88,000 and Rs 1,60,000, respectively. The variable costs of A, B and C are Rs 2,40,000, Rs 1,76,000 and Rs 1,44,000 respectively. The direct fixed costs of A, B and C are Rs 28,000, Rs 22,400 and Rs 12,800. Rank the different departments on basis of relative profitability.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Which of the following is a kind of information report?
Category: MBA Questions,   Published by: T-Code Scripts