Management Accounting Test Questions

Q.  In order to prepare a flexible budget, items of anticipated expenditures are classified into _______ classes.

a. Five
b. Three
c. Two
d. None of the above


ANSWER: See Answer
 
No explanation is available for this question!
MCQs:  While computing profit in marginal costing
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MCQs:  Which of the following are the assumptions of marginal costing? A) All the elements of cost can be divided into fixed and variable components. B) Total fixed cost remains constant at all levels of output. C) Total variable costs varies in proportion to the volume of output. D) Per unit selling price remain unchanged at all levels of operating activity.
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MCQs:  In two periods total costs amounts to Rs 50000 and Rs 40000 against production of 20000 and 15000 units respectively. Determine marginal cost per unit and fixed cost.
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MCQs:  While selecting optimum product mix ___________ is the real index of profitability.
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MCQs:  While selecting optimum product mix,
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MCQs:  The basic data used for differential cost analysis are
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MCQs:  Given sales is Rs 2,00,000 and Rs 4,00,000 in year 2013 and 2014 respectively. Profit is Rs (-10,000) and Rs 20,000 in 2013 and 2014 respectively. Compute P/V ratio.
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MCQs:  Given sales is Rs 2,00,000 and Rs 4,00,000 in year 2013 and 2014 respectively. Cost is Rs 1,40,000 and Rs 2,40,000 in 2013 and 2014 respectively. Compute P/V ratio.
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MCQs:  A company produces and sells three types of products namely X, Y and Z. Total sales per month is Rs 60,000 in which the share of these three goods are 40%, 40% and 20% respectively. Variable costs of these three goods are 40%, 50% and 60% respectively. Compute combined P/V ratio.
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MCQs:  Profit on sales is measured as
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MCQs:  Sales for desired profit is measured as
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MCQs:  Budgetary control deals with just total variances whereas in standard costing variances are measured for different departments and are disclosed in total for the entity as a whole.
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MCQs:  Which of the following statements are true about standard costing & budgetary control?
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MCQs:  To establish an effective system of standard costing it is essential that A) The technical process of operation should be prone to planning B) The cost of the products should be given C) The process or operating costs of products should be provided D) The standard costing should be consistent with the technical procedure of the production of the specific entity
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MCQs:  On the basis of period, budgets may be classified into _________ groups.
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MCQs:  R&D budget and Capital expenditure budget are examples of
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MCQs:  _______ is prepared for single level of activity and single set of business conditions.
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MCQs:  The payment made in lieu of purchase of fixed asset is
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MCQs:  Project forecast method is also known as
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MCQs:  While preparing a flexible budget, direct material, direct labour and direct expenses all are placed under the head of variable cost.
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