51.
Match the following.
List-I List-II
a. Cost control purposes 1. . . . . . is a predetermined cost
b. Standard cost 2. Responsibility accounting fixes responsibility for . . . . .
c. Integrates 3. Cost accounting guides future . . . . .
d. Production policies 4. Budgeting system . . . . . key managerial functions.

56.
Match the following.
List-I (Variances) List-II (Causes)
a. Overhead efficiency variance 1. Power failure
b. Overhead volume variance 2. Appointing low grade employees
c. Labour idle time variance 3. Poor working condition
d. Labour efficiency variance 4. Working days being more or less than budgeted

57.
An adverse labour efficiency variance together with a favourable labour rate variance may mean that

59.
Which of the following is not a valid possible cause of direct materials quantity variances?

60.
The margin of safety may be defined as

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