Cost Management and Pricing Decisions MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Cost Management and Pricing Decisions, a fundamental topic in the field of Cost Accounting. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Cost Management and Pricing Decisions MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Cost Management and Pricing Decisions mcq questions that explore various aspects of Cost Management and Pricing Decisions problems. Each MCQ is crafted to challenge your understanding of Cost Management and Pricing Decisions principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace Cost Accounting tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Cost Management and Pricing Decisions MCQs are your pathway to success in mastering this essential Cost Accounting topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Cost Management and Pricing Decisions. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

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Cost Management and Pricing Decisions MCQs | Page 15 of 15

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Q141.
The budget, which highlights the difference between actual quantity and budgeted quantity is termed as

a.

actual cost budget

b.

flexible budget variance

c.

inflexible budget

d.

hourly budget

Discuss
Answer: (b).flexible budget variance
Q142.
A company must eliminate all those activities that do not add value to all the products or services in planning of

a.

variable overhead cost

b.

fixed overhead cost

c.

fixed batch cost

d.

variable batch cost

Discuss
Answer: (a).variable overhead cost
Q143.
If the flexible budget amount is $40000 and variable overhead flexible budget variance is $25000, then actual costs incur will be

a.

$15,000

b.

$35,000

c.

$65,000

d.

$75,000

Discuss
Answer: (c).$65,000
Q144.
The flexible budget amount is added in to variable overhead flexible budget variance to calculate

a.

manufacturing costs incurred

b.

variable costs incurred

c.

fixed costs incurred

d.

actual costs incurred

Discuss
Answer: (d).actual costs incurred
Q145.
In the standard costing, the standard quantity allocation is multiplied to standard overhead rates for allocating

a.

flexible costs

b.

variable costs

c.

overhead costs

d.

fixed costs

Discuss
Answer: (c).overhead costs
Q146.
The depreciation on plant equipment, salaries of plant managers and plant leasing costs are considered a

a.

fixed batch cost

b.

variable batch cost

c.

variable overhead cost

d.

fixed overhead cost

Discuss
Answer: (d).fixed overhead cost
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