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Cost Accounting Mcqs
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Cost Accounting Mcqs – MCQs
1069 questions. Click to practice.
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1.
In the context of flexible budget analysis, how is the variable overhead flexible budget variance calculated?
Difference between fixed cost and variable budgeted amount
Difference between actual cost incurred and the flexible budget cost
Difference between variable cost and allocated overhead
Difference between actual cost and variable overhead amount
2.
Given a fixed setup cost of $21,000 and a variable setup cost of $11,000, what is the total setup cost?
$12,000
$15,000
$10,000
$32,000
3.
In the context of production volume variance, what term is used to describe a fixed cost incurred as a single total amount, such as expenses for equipment or plant lease?
one-time price charge
lump sum fixed cost
aggregate variable expense
total manufacturing expenditure
fixed variable lump sum
4.
Given that the total setup cost amounts to $42,000 and the fixed setup cost is $17,000, what is the variable setup cost?
$59,000
$25,000
$15,000
$39,000
5.
Which of the following levels are part of an activity-based costing hierarchy?
Batch-level activities
Unit-level activities
Facility and product-sustaining activities
All of the above
6.
Given a flexible budget amount of $21,500 and a fixed overhead flexible budget variance of $10,000, what is the actual cost incurred?
$61,500
$31,500
$41,500
$51,500
7.
In a manufacturing environment, how is the budgeted fixed overhead rate categorized?
production numerator basis
production denominator basis
production cost category
fixed production category
overhead allocation rate
8.
If the planned production volume is 250 units and the fixed overhead cost is budgeted at $150 per unit, what is the total budgeted fixed overhead for all units?
$67,500
$57,500
$47,500
$37,500
9.
The variance arises exclusively from the difference between the budgeted quantity and which of the following?
adjusted hours
realized expense
actual quantity used
real price
planned cost
10.
Which term describes the difference between the actual variable overhead cost and the budgeted variable overhead cost, multiplied by the actual quantity of output?
Variable overhead spending variance
Fixed overhead spending variance
Steady spending variance
Possible spending variance
11.
Given that the actual amount of the cost allocation base is $48,000 and the budgeted amount is $28,000, what is the variable overhead efficiency variance?
$20,000
$76,000
$86,000
$96,000
12.
How are the salaries of supervisors and engineers, along with the equipment leasing expenses, categorized?
setup costs that vary with production
setup costs that remain constant
batch costs that fluctuate with volume
batch costs that are fixed
none of the above
13.
Given that the variable overhead flexible budget variance is $26,000 and the flexible budget amount is $15,000, what is the actual cost incurred?
$20,000
$10,000
$30,000
$41,000
$35,000
14.
Which type of measurement evaluates a manager's performance based solely on individual factors?
performance efficiency metric
aggregate score measure
non-financial metrics
monetary-based measures
none of the above
15.
Given that engineers earn $3,000, supervisors earn $4,000, and the cost to lease equipment is $3,000, what is the total fixed setup cost?
$10,000
$1,000
$7,000
$4,000
16.
Given a planned production volume of 450 units and a fixed overhead budget of $250, what is the budgeted fixed overhead cost per unit?
$142,500
$112,500
$122,500
$132,500
17.
Given that the actual overhead cost incurred is $387,500 and the flexible budget overhead is $168,750, what is the fixed overhead variance based on the flexible budget?
$518,750
$418,750
$218,750
$318,750
None of the above
18.
Given that the fixed overhead assigned to the actual units produced is $7,500 and the budgeted fixed overhead totals $21,000, what is the production volume variance?
$16,500 unfavorable
$15,500 unfavorable
$14,500 unfavorable
$13,500 unfavorable
$12,500 unfavorable
19.
What do you call a cost that includes both fixed and variable components related to machine setup hours?
setup cost
batch expense
facility charge
fixed lump sum cost
20.
What does an adverse volume-production variance specifically assess?
Fixed setup costs
Overall setup expenses
Variable setup expenses
Complete overhead expenditures
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