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Cost Accounting Mcqs – MCQs
1069 questions. Click to practice.
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1.
What is determined by dividing the contribution margin by the operating income?
degree of operating leverage
rate of change
change in contribution margin
change in operating income
operating margin ratio
2.
What is the name of the graph that illustrates how changes in units sold impact operating income?
Profit-Volume (PV) graph
Cost-Volume (CV) graph
Sales-Operating (SO) graph
Quantity-Income (QI) graph
3.
Given that the contribution margin for a bundle is $45,000 and the total revenue from the bundle is $1,500, what is the contribution margin percentage for the bundle?
6 percent
3 percent
9 percent
12 percent
15 percent
4.
Given a fixed cost of $65,000 and a contribution margin ratio of 57.5% for a product bundle, what is the breakeven sales revenue?
$113,043.48
$1,200,000
$130,000
$140,000
None of the above
5.
Given a contribution margin of $25,000 and total sales revenue of $60,000, what is the amount of the variable costs?
-$85,000
-$35,000
$85,000
$35,000
6.
Given a contribution margin of $72,000 and an operating income of $12,000, what is the degree of operating leverage?
8
7
6
5
7.
Given a breakeven revenue of $360,000 and a revenue of $12,000 generated per bundle, how many bundles must be sold to reach the breakeven point?
52 bundles
48 bundles
45 bundles
30 bundles
8.
Given a margin of safety amounting to $25,000 and budgeted sales revenue of $45,000, what is the margin of safety expressed as a percentage?
55.56%
25.50%
28%
45.00%
50%
9.
Which formula correctly represents the calculation of the contribution margin?
Sales revenue minus total variable costs
Sales revenue plus total variable costs
Total costs added to sales revenue
Sales revenue minus breakeven quantity
10.
Given a gross margin of $9,000 and a cost of goods sold amounting to $8,000, what is the total revenue?
$1,000
-$1,000
$17,000
-$17,000
11.
What term is used to describe the collection of all possible occurrences that can take place in the near future or within a specified timeframe?
events
distribution
outcome
actions
12.
Given a budgeted revenue of $50,000 and a breakeven revenue of $35,000, what is the margin of safety?
$12,000
$14,000
$15,000
$16,000
13.
Given a fixed cost of $20,000, a desired operating income of $10,000, and a contribution margin of $1,200 per unit, how many units must be sold to achieve the target income?
55 units
45 units
35 units
25 units
30 units
14.
Given a desired net income of $9,600 and a tax rate of 40%, what is the required operating income before taxes?
$10,000
$12,000
$16,000
$14,000
$18,000
15.
If the gross profit amounts to $7,000 and total sales are $16,000, what is the cost of goods sold?
$23,000
-$23,000
-$9,000
$9,000
16.
In accounting, what term describes the chance that the actual figure may differ from the anticipated figure?
contribution
uncertainty
certainty
margin
variance
17.
Which term refers to the anticipated value of a result expressed in monetary units?
anticipated value
projected decision value
forecasted outcome value
expected monetary value
predicted financial value
18.
What term describes the proportion or count of various products that collectively represent a company's total sales?
sales mix
product assortment
unit assortment
quantity distribution
sales assortment
19.
In cost accounting, what term describes the financial method of setting a product's price higher than its production or acquisition cost?
sales markup
cost markup
gross margin
revenue margin
profit margin
20.
Given a bundle with a contribution margin of $4,000 and total sales revenue of $16,000, what is the contribution margin percentage for the bundle?
10 percent
15 percent
25 percent
35 percent
40 percent
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