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 2 of 20

Q11.
The variance is the stated difference between expected performance and the
Discuss
Answer: (b).actual results
Q12.
A costing system, which focuses on individual activities as the particular cost object is classified as
Discuss
Answer: (a).activity based costing
Q13.
The difference between actual input variance and the budgeted input variance is called
Discuss
Answer: (a).price variance
Q14.
An efficiency variance is 200 units and the actual input quantity is 500 units, then the budgeted input quantity will be
Discuss
Answer: (a).300 units
Q15.
The performance is evaluated only on the basis of price variance, if the performance evaluation is
Discuss
Answer: (a).positive
Q16.
The budget which is planned around a single output level is called
Discuss
Answer: (c).static budget
Q17.
The actual price of material is less than budgeted price, this means that
Discuss
Answer: (a).price variance is favorable
Q18.
An actual rate paid to labor is greater than the budgeted rate, it means that the
Discuss
Answer: (b).variance is unfavorable
Q19.
If the flexible budget variance is $95000 and an actual cost is $40000, then the flexible budget cost would be
Discuss
Answer: (d).$55,000
Q20.
If a company uses large quantity of input than the budgeted quantity for output level, then the company is known to be
Discuss
Answer: (c).company is inefficient
Page 2 of 20