Pak
QuizHub
Home
Important MCQs
Past Papers
About
Contact
Privacy
Cost Accounting Mcqs
/
MCQs
Cost Accounting Mcqs – MCQs
1069 questions. Click to practice.
Show Answers
Correct options are highlighted when revealed.
1.
Which of the following types of companies belong to the manufacturing industry?
logistics firms
fabric production companies
sales outlets
online connectivity providers
2.
Given a total production expense of $60,000 and a total output of 3,000 units, what is the cost incurred for each individual unit?
$40 per unit
$20 per unit
$60 per unit
$80 per unit
None of the above
3.
Which of the following is classified as a service sector company?
Manufacturers of mobile phones
Investment fund firms
Broadcasting stations
Distribution merchants
4.
Which category do companies belong to if they primarily offer services rather than goods?
Businesses involved in production
Companies focused on retail and sales
Organizations within the service industry
Firms supplying raw materials
5.
Which type of companies buy completed products and then resell them to consumers in the market?
companies in the service industry
firms dealing with raw materials
organizations involved in production
businesses operating in the merchandising sector
none of the above
6.
What term describes inventory made up of raw materials that are yet to be utilized in the manufacturing process?
completed products inventory
materials not directly used inventory
raw materials inventory
inventory of goods being produced
7.
What is the term for the cost obtained by dividing the overall manufacturing expenses by the number of units produced?
cost per unit
aggregate cost
total overhead cost
comprehensive effective cost
8.
Which of the following is not classified as a type of inventory in cost accounting?
Raw materials inventory
Goods in production inventory
Completed products inventory
Indirect materials inventory
9.
What could be the reason for a budget overrun if the machine time standards are set unrealistically low?
allocated budget
budget overrun
static budget
flexible budget
planned budget
10.
Given that the actual variable quantity is 70, with actual overhead costs of $8,650 and budgeted overhead costs of $3,500, what is the variable overhead spending variance?
$660,500
$560,500
$460,500
$360,500
11.
What is the initial step in establishing the cost rate for budgeted variable overhead?
Determine the budgeting timeframe
Pick the basis for allocation
Recognize the variable overhead expenses
Calculate the rate per unit
12.
Given that the fixed overhead assigned to actual units produced amounts to $25,000 and the production volume variance is $9,000, what is the budgeted fixed overhead?
$34,000
$24,000
$16,000
$18,000
13.
Allocating additional resources to establish core standards is known as which type of response?
Possible budget adjustment
Possible management action
Possible pricing strategy
Possible expense reaction
None of the above
14.
To determine which value do you add the flexible budget amount to the fixed overhead flexible budget variance?
manufacturing costs incurred
production expenses incurred
actual costs incurred
labor costs incurred
15.
Given a flexible budget value of $26,000 and a fixed overhead flexible budget variance of $12,500, what is the actual cost incurred?
$38,500
$48,500
$58,500
$13,500
None of the above
16.
Given a budgeted fixed overhead cost of $385,000 and a planned total quantity of 6,730 units, what is the budgeted fixed overhead cost allocated per unit?
$57.21 for each unit
$67.21 for each unit
$77.21 for each unit
$87.21 for each unit
17.
To determine the actual cost incurred, what must be added to the flexible budget amount in relation to variable overhead?
the actual cost incurred
the fixed costs recorded
the variable costs recorded
the total manufacturing expenses
18.
Given a fixed setup cost of $32,000 and a variable setup cost of $12,000, what is the total setup cost?
$20,000
$34,000
$44,000
$35,000
19.
Given that the fixed overhead assigned to actual output units amounts to $36,000 and the production volume variance is $7,000, what is the budgeted fixed overhead?
$43,000
$42,000
$29,000
$19,000
20.
What term describes the difference between the actual and budgeted quantities of the cost allocation base?
Efficiency variance for fixed overhead
Efficiency variance for variable overhead
Manufacturing variance for variable overhead
Manufacturing variance for fixed overhead
None of the above
← Previous
Page 14 of 54
Next →