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 3 of 20

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Q21.
In cost accounting, the goal of variance analysis is to
Discuss
Answer: (d).all of above
Q22.
In management control, an efficiency variance is also referred as
Discuss
Answer: (c).usage variance
Q23.
If an efficiency variance is 200 units and the actual input quantity is 750 units, then the budgeted input quantity will be
Discuss
Answer: (c).550 units
Q24.
If the budgeted price of input is $70, actual quantity of input is 250 units and the allowed budgeted quantity of input is 90 units, then efficiency variance will be
Discuss
Answer: (b).$11,200
Q25.
The budgeted input quantity is added in to efficiency variance to calculate
Discuss
Answer: (a).actual input quantity
Q26.
The static budget amount is subtracted from the actual result to calculate
Discuss
Answer: (c).static budget variance
Q27.
The point at which the control functions and the planning of management come together is known as
Discuss
Answer: (b).variance
Q28.
The difference between actual quantity use and input quantity for output is multiplied with budgeted price to calculate
Discuss
Answer: (b).efficiency variance
Q29.
The level of used input to achieve a determined level of output is termed as
Discuss
Answer: (a).efficiency
Q30.
The flexible budget variance is subtracted from actual cost to calculate
Discuss
Answer: (a).flexible budget cost