The master budget, which is based on the planned output level at the start of budget period is considered as ____________?
A. static budget B. varied budget C. marketing budget D. methodological budget
Accounting MCQs with Answers
If the input used in manufacturing is smaller in quantity and output produced is greater in quantity, this will be categorized under ____________?
A. lesser effective B. greater efficiency C. smaller efficiency D. greater effective
If the budgeted input quantity is 350 units and efficiency variance is 100, then an actual input quantity will be __________?
A. 250 units B. 450 units C. 550 units D. 650 units
If the price variance is $20 and the budgeted input price is $70, then an actual price will be ____________?
A. $90 B. $50 C. −$50 D. $100
If the price variance is $30 and the budgeted input price is $80, then an actual price would be _____________?
A. −$110 B. −$50 C. $110 D. $50
Static budget variance for operating income is added in to static budget amount to calculate __________?
A. actual result B. expected results C. expected cost D. expected revenue
In the budget hierarchy, the material handling cost is ___________?
A. fixed manufacturing cost B. batch level cost C. per unit cost D. factory overall cost
The determined price at which the company expects to pay for every single unit is called ___________?
A. standard price B. input price C. actual input D. output price
The consideration of increased operating income relative to budgeted amount is classified as ____________?
A. favorable variance B. unfavorable variance C. revenue variance D. cost variance
If the static budget variance is $38000 and the static budget amount is $12000, then an actual result would be _____________?
A. $36,000 B. $60,000 C. $26,000 D. $50,000