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Management Sciences 5307 MCQs [All-Courses]

Management Sciences focuses on the planning, organizing, leading, and controlling of resources to achieve organizational goals.This subject is highly important for competitive exams, academic study, and professional careers in the business and public sectors.

In a normal accounting period, the allocated amount of indirect cost is $2000 and the actual amount is $2200, it classified as __________?

A over allocated budget

B under allocated budget

C under allocated indirect cost

D over allocated direct cost

Review Detailed Answer

Correct Answer: over allocated budget

The consideration of decreased operating income relative to budgeted amount, in static budget is classified as ____________?

A revenue variance

B cost variance

C favorable variance

D unfavorable variance

Review Detailed Answer

Correct Answer: favorable variance

If the budgeted annual manufacturing indirect cost is $2250000 and the cost allocation base is 2800 labor hour, then budgeted manufacturing overhead rate will be ___________?

A $803.571 per labor hour

B $805 per labor hour

C $905 per labor hour

D $802 per labor hour

Review Detailed Answer

Correct Answer: $803.571 per labor hour

The standard input allows one unit, to be divided by standard cost per output unit, for variable direct cost input to calculate ___________?

A standard price per input unit

B standard price per output unit

C standard cost per input unit

D standard cost per output unit

Review Detailed Answer

Correct Answer: standard price per input unit

If the budgeted indirect cost arte is $115 and the budgeted cost allocation base is $830 per hour, then the annual indirect cost (budgeted) will be ___________?

A $93,450

B $94,560

C $96,450

D $95,450

Review Detailed Answer

Correct Answer: $95,450

If the actual input price is $150 and the budgeted input price is $80, then the price variance will be ___________?

A $130

B $70

C $150

D $80

Review Detailed Answer

Correct Answer: $70

The procedure of assigning the direct cost to any cost abject is classified as ____________?

A sales allocation

B cost tracing

C cost allocation

D sales tracing

Review Detailed Answer

Correct Answer: cost allocation

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 ___________?

A $15,000

B $13,000

C $11,000

D $9,000

Review Detailed Answer

Correct Answer: $15,000

If the budgeted cost in indirect cost pool is $144500 and total quantity of cost allocation base is $165500, then the budgeted indirect cost rate will be __________?

A 67.30%

B 87.31%

C 55.50%

D 45.50%

Review Detailed Answer

Correct Answer: 87.31%

If the actual input quantity is 300 units and the budgeted input quantity is 100 units, then the efficiency variance will be ____________?

A 600 units

B 200 units

C 400 units

D 500 units

Review Detailed Answer

Correct Answer: 200 units

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

In a normal accounting period, the allocated amount of indirect cost is $2000 and the actual amount is $2200, it classified as __________?

The consideration of decreased operating income relative to budgeted amount, in static budget is classified as ____________?

If the budgeted annual manufacturing indirect cost is $2250000 and the cost allocation base is 2800 labor hour, then budgeted manufacturing overhead rate will be ___________?

The standard input allows one unit, to be divided by standard cost per output unit, for variable direct cost input to calculate ___________?

If the budgeted indirect cost arte is $115 and the budgeted cost allocation base is $830 per hour, then the annual indirect cost (budgeted) will be ___________?

If the actual input price is $150 and the budgeted input price is $80, then the price variance will be ___________?

The procedure of assigning the direct cost to any cost abject is classified as ____________?

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 ___________?

If the budgeted cost in indirect cost pool is $144500 and total quantity of cost allocation base is $165500, then the budgeted indirect cost rate will be __________?

If the actual input quantity is 300 units and the budgeted input quantity is 100 units, then the efficiency variance will be ____________?