Management Accounting Test Questions


Q.  Plant utilization budget and Manufacturing overhead budgets are types of

a. Production budget
b. Sales budget
c. Cost budget
d. None of the above


ANSWER: See Answer
 
No explanation is available for this question!
MCQs:  The share capital of A Ltd. stood at Rs 20,00,000 in 2013 and at Rs 26 lac in 2014. As per records, the company bought asset of another company for Rs 6 lac payable in fully paid shares. These assets included Goodwill Rs 2,00,000 Machinery Rs 1,83,600 and Stock Rs 2,16,400. What is the fund from issue of shares?
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MCQs:  Debentures are Rs 2,50,000 and Rs 3,50,000 in the balance sheet of 2013 and 2014. 1000 of the debentures of Rs 100 each were issued at per in 2014 of which 400 debentures were issued to a supplier for the purchase of a machine. Determine amount of issue for debentures for the purpose of funds flow statement.
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MCQs:  Which of the following are cash flow from financing activities? A) Interest received B) Dividend received C) Interest paid D) Dividend paid
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MCQs:  Acquisition and disposal of long term assets is included in
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MCQs:  Which of the following statements represent example of cash flow from investing activities?
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MCQs:  Absorption costing is also known as
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MCQs:  Given production is 1,00,000 units, fixed costs is Rs 2,00,000 Selling price is Rs 10 per unit and variable cost is Rs 6 per unit. Determine profit using technique of marginal costing.
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MCQs:  Which of the following statements are true about absorption & marginal costing?
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MCQs:  4000 mobiles need to be made and sold in a monopoly market. The desired profit is Rs 2,00,000. The variable cost per mobile is Rs 100 and the total fixed costs are Rs 40,000. Find out unit selling price.
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MCQs:  When there is tough competition and price-cut is on war, the focus should be on
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MCQs:  Differential costs are obtained on the basis of
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MCQs:  Calculate sales in rupees for desired profit if fixed cost is Rs 10,000, selling price is Rs 20 per unit, Variable cost is Rs 15 per unit and desired profit is Rs 1 per unit.
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MCQs:  Determine sales in units for desired profit if Fixed cost is Rs 15,000, desired profit is Rs 5,000 Selling price per unit is Rs 20 and Variable cost per unit is Rs 16.
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MCQs:  What will be sales in units if fixed cost is Rs 50,000, Contribution per unit is Rs 60 and desired profit per unit is Rs 10.
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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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