Flexible Budget and Management Control MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Flexible Budget and Management Control, 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 Flexible Budget and Management Control 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 Flexible Budget and Management Control mcq questions that explore various aspects of Flexible Budget and Management Control problems. Each MCQ is crafted to challenge your understanding of Flexible Budget and Management Control 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 Flexible Budget and Management Control 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 Flexible Budget and Management Control. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Flexible Budget and Management Control knowledge to the test? Let's get started with our carefully curated MCQs!

Flexible Budget and Management Control MCQs | Page 1 of 20

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Q1.
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
Discuss
Answer: (a).$15,000
Q2.
If the actual input price is $150 and the budgeted input price is $80, then the price variance will be
Discuss
Answer: (b).$70
Q3.
The standard input allows one unit, to be divided by standard cost per output unit, for variable direct cost input to calculate
Discuss
Answer: (a).standard price per input unit
Q4.
The consideration of decreased operating income relative to budgeted amount, in static budget is classified as
Discuss
Answer: (d).unfavorable variance
Q5.
If the flexible budget variance is $105000, the actual cost is $65000 then the flexible budget cost will be
Discuss
Answer: (a).$40,000
Q6.
An actual input quantity is 200 units and the budgeted input quantity is 50 units, then the efficiency variance will be
Discuss
Answer: (c).150 units
Q7.
The degree which predetermines target or income achieved, can be grouped under
Discuss
Answer: (d).effectiveness
Q8.
If the budgeted input price is $50, the price variance is $30 then an actual price will be
Discuss
Answer: (c).$80
Q9.
The quantity of input which is carefully determined is called
Discuss
Answer: (c).standard input
Q10.
If the actual cost is $356000 and the flexible budget cost is $255000, then the flexible budget variance will be
Discuss
Answer: (c).$101,000