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MCQs: Profit at any level of sales in units is measured as
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MCQs: What will be the amount of profit if Fixed cost is Rs 20,000 Sales is Rs 1,60,000 and P/V ratio is 25%?
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MCQs: Determine amount of profit if Variable costs is Rs 1,20,000 Fixed costs is Rs 40,000 and sales is Rs 2,00,000.
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MCQs: The labour engaged in the making of a product is known as _______
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MCQs: Which of the following statements are true about standard labour time?
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MCQs: If labour time is based on the maximum efficiency, the unit cost will be
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MCQs: A budgeting process which demands each manager to justify his entire budget in detail from beginning is
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MCQs: The scare factors is also known as
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MCQs: Capacity ratio * Efficiency ratio = Activity ratio.
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MCQs: A budgeted balance sheet is prepared in Projected Balance sheet method and an estimate is made of the values of all assets including bank overdraft, cash balance and bank.
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MCQs: Which of the following statements are not true about Projected Balance Sheet Method?
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MCQs: XYZ factory working for 50 hours per week employs hundred workers on a job work. The standard output is 200 units per gang hour and standard rate is Rs 1 per hour. During a week in June, five employees were paid @ Rs 1.20 per hour and ten employees were paid @ 80 paise per hour. Rest of the employees were paid @ standard hour rate. The actual number of units produced was 10,200. Determine labour cost variance
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MCQs: Given standard cost specifications time 5 hours per unit and cost Rs 5 per labour. Actual performance in cost period is production hours 10,400 and idle time 400 hours. Payment done is average per hour Rs 5.20 for 10,800 hours. Determine labour rate variance and labour efficiency variance, respectively.
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MCQs: Which variance is also known as Gang composition variance?
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MCQs: Which of the following statements are true about responsibility accounting?
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MCQs: Control reports come in the category of routine reports.
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MCQs: The coverage of control reports is wider than that of information reports.
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MCQs: Management accounting highlights staff relationship with top management as well as other personnel.
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MCQs: Which of the following statements are true?
A) Financial statements are only interim report.
B) Financial statements are also known as annual records.
C) Financial statements are historic.
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MCQs: Certain assumptions are essential to prepare financial statements.
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