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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.

If the budgeted annual indirect cost is $85000 and budgeted annual quantity of cost allocation base is $7500, then budgeted indirect cost rate would be __________?

A 112.34 per piece

B 113.34 per piece

C 111.34 per piece

D 110.34 per piece

Review Detailed Answer

Correct Answer: 113.34 per piece

If the price variance is $30 and the budgeted input price is $80, then an actual price would be _____________?

A −$110

B −$50

C $110

D $50

Review Detailed Answer

Correct Answer: $110

The manufacturing overhead cost allocated to individual jobs is classified as ___________?

A manufacturing overhead allocated

B cost overhead applied

C manufacturing overhead applied

D both A and C

Review Detailed Answer

Correct Answer: both A and C

If the price variance is $20 and the budgeted input price is $70, then an actual price will be ____________?

A $90

B $50

C −$50

D $100

Review Detailed Answer

Correct Answer: $90

If the budgeted total direct labor hours are 5500 and budgeted direct labor cost is $755000, then the budgeted direct labor cost rate is _________?

A $138 per labor hour

B $137.27 per hour

C $140 per labor hour

D $142 per labor hour

Review Detailed Answer

Correct Answer: $137.27 per hour

If the budgeted input quantity is 350 units and efficiency variance is 100, then an actual input quantity will be __________?

A 250 units

B 450 units

C 550 units

D 650 units

Review Detailed Answer

Correct Answer: 450 units

If the budgeted total direct labor hours are 3800 and budgeted direct labor cost is $480000, then the budgeted direct labor cost rate will be ___________?

A $126.32 per labor hour

B $128.32 per labor hour

C $130 per labor hour

D $132 per labor hour

Review Detailed Answer

Correct Answer: $126.32 per labor hour

If the input used in manufacturing is smaller in quantity and output produced is greater in quantity, this will be categorized under ____________?

A lesser effective

B greater efficiency

C smaller efficiency

D greater effective

Review Detailed Answer

Correct Answer: greater efficiency

A document which consists information about labor time usage, for specific job in a specific department, is known as __________?

A selling time record

B labor time record

C buying time record

D direct time record

Review Detailed Answer

Correct Answer: labor time record

The master budget, which is based on the planned output level at the start of budget period is considered as ____________?

A static budget

B varied budget

C marketing budget

D methodological budget

Review Detailed Answer

Correct Answer: static budget

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

If the budgeted annual indirect cost is $85000 and budgeted annual quantity of cost allocation base is $7500, then budgeted indirect cost rate would be __________?

If the price variance is $30 and the budgeted input price is $80, then an actual price would be _____________?

The manufacturing overhead cost allocated to individual jobs is classified as ___________?

If the price variance is $20 and the budgeted input price is $70, then an actual price will be ____________?

If the budgeted total direct labor hours are 5500 and budgeted direct labor cost is $755000, then the budgeted direct labor cost rate is _________?

If the budgeted input quantity is 350 units and efficiency variance is 100, then an actual input quantity will be __________?

If the budgeted total direct labor hours are 3800 and budgeted direct labor cost is $480000, then the budgeted direct labor cost rate will be ___________?

If the input used in manufacturing is smaller in quantity and output produced is greater in quantity, this will be categorized under ____________?

A document which consists information about labor time usage, for specific job in a specific department, is known as __________?

The master budget, which is based on the planned output level at the start of budget period is considered as ____________?