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 6 of 20

Q51.
In the budget hierarchy, the material handling cost is
Discuss
Answer: (b).batch level cost
Q52.
If the actual payment to labor is $1200 and the budgeted rate is $1000, then the labor price variance would be
Discuss
Answer: (d).unfavorable
Q53.
An expected performance of the company is also known as
Discuss
Answer: (c).budgeted performance
Q54.
The determined price at which the company expects to pay for every single unit is called
Discuss
Answer: (a).standard price
Q55.
If the actual result is $65000 and the static budget variance is $35000, then the static budget amount will be
Discuss
Answer: (d).$30,000
Q56.
The consideration of increased operating income relative to budgeted amount is classified as
Discuss
Answer: (a).favorable variance
Q57.
If an actual price of material is $700 and the budgeted price is $900, then the
Discuss
Answer: (c).price variance is favorable
Q58.
If the static budget variance is $38000 and the static budget amount is $12000, then an actual result would be
Discuss
Answer: (d).$50,000
Q59.
In costing and budgeting hierarchy, an example of product sustaining cost is
Discuss
Answer: (d).product design cost
Q60.
If the actual input quantity is 300 units and the budgeted input quantity is 100 units, then the efficiency variance will be
Discuss
Answer: (b).200 units
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