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MCQs: Given Break even sales is 40,000 Profit earned is Rs 2,000 and fixed cost is Rs 8,000. Determine actual sales.
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MCQs: What will be the sales amount required to earn a profit of Rs 4,00,000, if fixed cost is Rs 80,000, direct material is Rs 5 per unit, direct labor Rs 2 per unit, direct overhead 100% of direct labor and selling price is Rs 12 per unit.
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MCQs: Which of the following standards cannot be used for cost control?
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MCQs: Which of the following statements are not true about normal standards?
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MCQs: Standard costing committee is responsible for
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MCQs: ABC Company plans a sale of 96,000 units of TV product line in the first fiscal quarter, 1,20,000 TV units in second quarter, and 1,32,000 units and 1,50,000 units in third and fourth quarter, and 1,56,000 units in the first quarter of next year. Given that at the beginning of first fiscal quarter, the company has 16,000 units in stock. Also, at the end of each quarter, ABC Company wants to maintain an inventory equal to one-sixth of the sales for the next fiscal quarter. Determine units to be manufactured in first and second quarter of the year.
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MCQs: Given the budgeted output in second quarter is 8,000 units. In the first quarter, Fixed overheads were Rs 40,000 Variable overheads were Rs 5 per unit ( Rs 40,000) and semi variable were 20,000 ( 60% varying @ Rs 3 per unit). Determine the total manufacturing overhead budget for the second quarter.
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MCQs: In fixed budgets costs are classified according to their nature.
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MCQs: While preparing cash budget from Cash Accounting method, if there is no specific direction in respect of a particular item, it is assumed that payments or receipts will take place in
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MCQs: If in any month, the amount of payment exceeds, it will be carried forward as opening balance in the next month.
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MCQs: The total costs at 60% and 70% of activity are Rs 28,290 and Rs 30,348 respectively. Production at 60% level is 720 units and selling price is Rs 38 per unit. Determine Profit and Loss at 80% activity level.
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MCQs: If variable and fixed costs at 60% capacity are Rs 12,000 and Rs 9,000 respectively, total cost at 80% capacity will be
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MCQs: Idle time variance arises when
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MCQs: The formula used for calculation of labour rate variance is
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MCQs: Labour efficiency variance is also known as
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MCQs: Management auditor should have a thorough knowledge of
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MCQs: In profit center revenue represents a monetary measure of output emanating from a profit center in a given period irrespective whether
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MCQs: Control reports and information reports are a part of
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MCQs: Which of the following statements are false about management accounting?
A) Management accounting is concerned with historical events.
B) Management accounting is related only with such instances which can be expressed in monetary terms.
C) Management accounting is a part of Financial Management.
D) Management accounting information can be disclosed to outsiders.
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MCQs: The form of balance sheet is
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