Management Accounting Test Questions

Q.  Material yield variance arises when

a. Actual output > Standard output
b. Actual output < Standard output
c. Both a and b
d. None of the above


ANSWER: See Answer
 
No explanation is available for this question!
MCQs:  Under method of least squares, a linear equation is developed in the form of ______ wherein Y is total cost, a = fixed cost, b = marginal cost and X is output.
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MCQs:  Product X is manufactured By ABC company, The sales is Rs 50,000 Direct Materials is Rs 20,000, Direct Labour is Rs 10,000, Variable overheads is Rs 5,000 and Fixed overheads is Rs 10,000. ABC Company now intends to introduce a new product Y so that sales may be increased by Rs 10,000. There will be no rise in fixed costs and the estimated variable costs of Product Y are Labour Rs 2,200 Materials Rs 4,800 Overheads Rs 1,400. If the company introduces Product Y, what will be the impact?
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MCQs:  Breakeven point can be calculated in terms of units as well as in terms of amount.
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MCQs:  Which of the following statements are true about Break-even analysis?
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MCQs:  What will be amount of profit if Margin of safety is Rs 50,000 and P/V ratio is 25%?
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MCQs:  Determine B.E.P if Sales is Rs 1,00,000, Variable cost is Rs 50,000 and Profit is Rs 20,000.
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MCQs:  What will be the B.E.P if P/V ratio is 20% and Fixed cost is Rs 40,000.
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MCQs:  A cost centre which relates to equipment or to location is known as
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MCQs:  There are ______ types of standard used in the process of establishment of standard costing system.
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MCQs:  _________reflects a level of attainment depending on the maximum possible efficiency which may never be achieved.
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MCQs:  _________ is stated as a budget which is made to change as per the levels of activity attained.
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MCQs:  __________ contains the picture of total plans during the budget period and it comprises information relating to sales, profit, cost, production etc.
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MCQs:  _______also known as subsidiary budgets.
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MCQs:  In a month, payment for salary was Rs. 5,750 when the lag in payment of salary is 1/8 month. If total salaries of current month are Rs 6,000, determine the salaries of previous month.
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MCQs:  Cash budget is a __________ budget.
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MCQs:  Semi-variable expenses increases with the increase in the level of activity,
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MCQs:  Semi-variable cost will not be zero, even if production is nil.
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MCQs:  Material sub usage variance is calculated when A) When quantity of wastage is not given B) When quality of output is not given C) When price of wastage is not given D) When total cost of output is not given
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