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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 overhead cost variance analysis, the fixed overhead does not include ______________?

A efficiency variance

B unfavorable variance

C production volume variance

D favorable variance

Review Detailed Answer

Correct Answer: efficiency variance

If the fixed cost is $30000 and the contribution margin per unit is $600 per unit, then the breakeven in units will be ____________?

A 50 units

B 60 units

C 70 units

D 65 units

Review Detailed Answer

Correct Answer: 50 units

To calculate fixed overhead flexible budget variance, an actual incurred cost is subtracted from ___________?

A flexible budget amount

B constant amount

C variable amount

D production amount

Review Detailed Answer

Correct Answer: flexible budget amount

If the contribution margin percentage is 20% and the selling price is $4000, then contribution margin per unit will be ______________?

A $200

B $400

C $600

D $800

Review Detailed Answer

Correct Answer: $800

If the cost of indirect support labor is $5000, equipment maintenance setup cost is $7000 and machinery leasing cost is $4000 then variable fixed cost will be ___________?

A $16,000

B $12,000

C $18,000

D $21,000

Review Detailed Answer

Correct Answer: $12,000

The selling price is multiplied to quantity of sold units to calculate _____________?

A revenues

B sold quantity

C sold price

D bulk price

Review Detailed Answer

Correct Answer: revenues

The fixed overhead allocated for actual output unit is subtracted from budgeted fixed overhead to calculate _______________?

A budget variance

B production volume variance

C price volume variance

D cost volume variance

Review Detailed Answer

Correct Answer: production volume variance

The contribution margin per unit is divided by selling price to calculate ____________?

A fixed margin percentage

B contribution margin percentage

C variable margin percentage

D breakeven margin percentage

Review Detailed Answer

Correct Answer: contribution margin percentage

The second step in developing operating budget is to _________?

A identify variable overhead cost

B compute the per unit rate

C choose the budgeting period

D select allocation bases

Review Detailed Answer

Correct Answer: select allocation bases

In manufacturing companies, the revenue and cost drivers are categorized under ____________?

A variable costs

B costs of goods sold

C number of units sold

D all of above

Review Detailed Answer

Correct Answer: number of units sold

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

In overhead cost variance analysis, the fixed overhead does not include ______________?

If the fixed cost is $30000 and the contribution margin per unit is $600 per unit, then the breakeven in units will be ____________?

To calculate fixed overhead flexible budget variance, an actual incurred cost is subtracted from ___________?

If the contribution margin percentage is 20% and the selling price is $4000, then contribution margin per unit will be ______________?

If the cost of indirect support labor is $5000, equipment maintenance setup cost is $7000 and machinery leasing cost is $4000 then variable fixed cost will be ___________?

The selling price is multiplied to quantity of sold units to calculate _____________?

The fixed overhead allocated for actual output unit is subtracted from budgeted fixed overhead to calculate _______________?

The contribution margin per unit is divided by selling price to calculate ____________?

The second step in developing operating budget is to _________?

In manufacturing companies, the revenue and cost drivers are categorized under ____________?