Management Accounting Set 25

Q1 | Which of the following costs is not relevant when considering the closure of a department within a factory?

Q2 | A Cost Unit is _____________

Q3 | Factory Overheads are also called :

Q4 | Expenditure over and above prime cost is known as ________.

Q5 | If the actual price input is $700, the budgeted price of input is $400 and the actual quantity of input are 50 units, then the price variance will be

Q6 | Return on capital employed shows the ________ of a firm.

Q7 | A Company’s Quick Ratio is 1.5 : 1; Current Liabilities are ?2,00,000 and Inventory is?1,80,000. Current Ratio will be :

Q8 | Total revenue from operations ?27,00,000; Credit revenue from operations ?18,00,000; Opening Debtors ?3,20,000; Closing Debtors ?4,00,000; Provision for Doubtful Debts ?60,000. Trade Receivables Turnover Ratio will be :

Q9 | In a product mix decision, which is the most important factor to consider to try to maximise profit?

Q10 | If the contribution margin per unit is $700 per unit and the break-even per unit is $40, then the fixed cost would be

Q11 | The budget which commonly takes the form of budgeted Profit and Loss Account and Balance Sheet is

Q12 | Which of the following is not likely to be a reason of unfavourable direct labour efficiency variance?

Q13 | What is main component of operating expenses?

Q14 | Comprehensive Machine Hour Rate includes :

Q15 | The purpose of financial accounting is to provide information for ________.

Q16 | 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