Accounting MCQs

1590 MCQs  (Page 79 of 159)

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The companies in the industry that purchase the finished goods, and further sell the products into the market are classified as ______________?
A. Service sector companies
B. Raw material companies
C. Manufacturing sector companies
D. Merchandising sector companies
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Companies that are part of an industry of ‘service providers’ are ____________?
A. Manufacturing sector companies
B. Merchandising sector companies
C. Service sector companies
D. Raw material companies
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An inventory which consists of stock waiting to be used In the process of manufacturing is known as ___________?
A. Finished goods inventory
B. Indirect material inventory
C. Direct materials inventory
D. Work in process inventory
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The machine budgeted time standards are set too tight, is the possible cause for ____________?
A. Priced budget
B. Exceeding budget
C. Fixed budget
D. Variable budget
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In cost accounting, the types of inventory do not include ______________?
A. Direct materials inventory
B. Work in process inventory
C. Finished goods inventory
D. Indirect material inventory
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The cost computed by dividing total manufacturing cost and total manufactured units is known as ____________?
A. Per unit cost
B. Total cost
C. Total indirect cost
D. Total effective cost
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The first step in developing cost rate for budgeted variable overhead is to __________?
A. Choose the budgeting period
B. Select allocation bases
C. Identify variable overhead cost
D. Compute the per unit rate
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If an actual variable quantity is 70, the actual and budgeted overhead cost of allocation is $8650 and $3500 respectively, then the variable overhead spending variance will be __________?
A. $660,500
B. $560,500
C. $460,500
D. $360,500
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Usage of more resources to develop fundamental standards is classified as ____________?
A. Potential budget response
B. Potential management response
C. Potential price response
D. Potential cost response
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If fixed overhead allocated for actual output units is $25000 and the production volume variance is $9000, then budgeted fixed overhead will be _____________?
A. $34,000
B. $24,000
C. $16,000
D. $18,000
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Word of the Day
17 Jul
Flagrant
(of an action considered wrong or immoral) conspicuously or obviously offensive.
انتہائی برا، قابل مذمت، فاش

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