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.
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. |
52. The difference between fixed and variable cost has a special significance in the preparation of
53. Which of the following are direct expenses?
54. Cost of production report is
55. Sales budget is
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
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
58. Which of the following does not comprise of (Cost of Good Sold) COGS?
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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