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Flexible Budget and Management Control Online Exam Quiz

Important questions about Flexible Budget and Management Control. Flexible Budget and Management Control MCQ questions with answers. Flexible Budget and Management Control exam questions and answers for students and interviews.

If the actual price input is $700, the budgeted price of input is $400 and the actual quantity of input are 50 units, then the price variance will be

Options

A : a. $15,000

B : b. $13,000

C : c. $11,000

D : d. $9,000

If the actual input price is $150 and the budgeted input price is $80, then the price variance will be

Options

A : a. $130

B : b. $70

C : c. $150

D : d. $80

The standard input allows one unit, to be divided by standard cost per output unit, for variable direct cost input to calculate

Options

A : a. standard price per input unit

B : b. standard price per output unit

C : c. standard cost per input unit

D : d. standard cost per output unit

The consideration of decreased operating income relative to budgeted amount, in static budget is classified as

Options

A : a. revenue variance

B : b. cost variance

C : c. favorable variance

D : d. unfavorable variance

If the flexible budget variance is $105000, the actual cost is $65000 then the flexible budget cost will be

Options

A : a. $40,000

B : b. $50,000

C : c. $150,000

D : d. $170,000

An actual input quantity is 200 units and the budgeted input quantity is 50 units, then the efficiency variance will be

Options

A : a. 275 units

B : b. 250 units

C : c. 150 units

D : d. 650 units

The degree which predetermines target or income achieved, can be grouped under

Options

A : a. growth evaluation

B : b. performance evaluation

C : c. efficiency

D : d. effectiveness

If the budgeted input price is $50, the price variance is $30 then an actual price will be

Options

A : a. $100

B : b. $20

C : c. $80

D : d. $60

The quantity of input which is carefully determined is called

Options

A : a. output unit

B : b. input unit

C : c. standard input

D : d. standard output

If the actual cost is $356000 and the flexible budget cost is $255000, then the flexible budget variance will be

Options

A : a. $104,000

B : b. $103,000

C : c. $101,000

D : d. $102,000

The variance is the stated difference between expected performance and the

Options

A : a. revenue planning

B : b. actual results

C : c. marketing results

D : d. cost planning

A costing system, which focuses on individual activities as the particular cost object is classified as

Options

A : a. activity based costing

B : b. improved costing

C : c. learned improvements

D : d. positive effectiveness

The difference between actual input variance and the budgeted input variance is called

Options

A : a. price variance

B : b. actual output price

C : c. budgeted output price

D : d. actual selling price

An efficiency variance is 200 units and the actual input quantity is 500 units, then the budgeted input quantity will be

Options

A : a. 300 units

B : b. 700 units

C : c. 800 units

D : d. 500 units

The performance is evaluated only on the basis of price variance, if the performance evaluation is

Options

A : a. positive

B : b. negative

C : c. zero

D : d. one

The budget which is planned around a single output level is called

Options

A : a. marketing budget

B : b. methodological budget

C : c. static budget

D : d. varied budget

The actual price of material is less than budgeted price, this means that

Options

A : a. price variance is favorable

B : b. price variance is unfavorable

C : c. cost variance is favorable

D : d. cost variance is unfavorable

An actual rate paid to labor is greater than the budgeted rate, it means that the

Options

A : a. cost is unfavorable

B : b. variance is unfavorable

C : c. variance is favorable

D : d. cost is favorable

If the flexible budget variance is $95000 and an actual cost is $40000, then the flexible budget cost would be

Options

A : a. $135,000

B : b. $45,000

C : c. $50,000

D : d. $55,000

If a company uses large quantity of input than the budgeted quantity for output level, then the company is known to be

Options

A : a. variable growth of company

B : b. constant growth of company

C : c. company is inefficient

D : d. company is efficient

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