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Cost Accounting Mcqs – MCQs
1069 questions. Click to practice.
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1.
Given an actual outcome of $26,000 and a flexible budget value of $13,000, what is the flexible budget amount?
$39,000
$49,000
$13,000
$15,000
2.
How is the flexible budget variance for a company's revenue categorized?
selling price variance
investment variance
profit variance
primary variance
3.
Given a static budget of $9,000 and a flexible budget of $20,000, what is the sales volume variance?
$29,000
$11,000
$15,000
$10,000
4.
Given that the actual selling price is $500, the actual revenue is $250, and 350 units were sold, what is the selling price variance?
$87,500
$97,500
$67,500
$57,500
5.
Given an actual result of $25,000 and a flexible budget figure of $11,000, what is the flexible budget variance?
$36,000
$46,000
$56,000
$14,000
6.
Given a static budget of $6,000 and a flexible budget of $15,000, what is the sales volume variance?
$9,000
$8,000
$12,000
$21,000
7.
Given a production volume of 3,000 units and a cost of $500 per unit, what is the total flexible budget amount for variable costs?
$1,500,000
$2,500,000
$3,500,000
$4,500,000
None of the above
8.
Given an actual selling price of $400, actual sales revenue of $250, and 500 units sold, what is the selling price variance?
$45,000
$55,000
$75,000
$65,000
9.
If 5,000 units are produced and each unit costs $60, what is the total variable amount in the flexible budget?
$5,000,000
$3,000,000
$2,000,000
$1,000,000
None of the above
10.
What is the name of the budget that estimates anticipated revenues and expenses according to the actual level of production?
flexible budget
static budget
variable budget
composite budget
none of the above
11.
To determine the total cost, the quantity of units is multiplied by which type of budget variable?
variable budget with multiple factors
fixed budget component
flexible budget variable
unchanging budget amount
none of the above
12.
What do you obtain by multiplying the quantity of units by the price per unit?
variable budget with multiple factors
fixed budget amount
flexible budget amount
unchanging budget figure
13.
Given a static budget of $405,000 and a flexible budget of $620,000, what is the sales budget variance?
$215,000
$315,000
$415,000
$515,000
14.
What is the term for the variance between the flexible budget figure and the related static budget figure?
variance in sales revenue
variance in cost profit
variance in profit volume
variance in sales volume
15.
What term is used to describe the economic results forecasted for various potential event combinations?
margin
distribution
aggregation
outcome
result
16.
Given a desired net income of $36,000 and a tax rate of 40%, what is the required operating income to achieve this target?
$12,000
$24,000
$48,000
$60,000
$72,000
17.
Given that the sales volume is 7000 units and the breakeven volume is 1500 units, what is the margin of safety in units?
4500 units
5500 units
8500 units
9500 units
None of the above
18.
Given that the breakeven revenue is $220,000 and each bundle generates $10,000 in revenue, how many bundles must be sold to reach the breakeven point?
30 bundles
22 bundles
40 bundles
35 bundles
25 bundles
19.
Given that the contribution margin amounts to $3,000 and total sales revenue is $9,000, what is the total value of variable costs?
$12,000
$6,000
-$6,000
-$12,000
None of the above
20.
Given a margin of safety amounting to $35,000 and a planned revenue of $80,000, what is the margin of safety expressed as a percentage?
32.75%
43.75%
53%
22%
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