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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.

The difference that exists between total revenues, can be earned from two different alternatives is termed as ________?

A independent revenue

B incremental revenue

C differential revenue

D dependent revenue

Review Detailed Answer

Correct Answer: differential revenue

In cost accounting, the types of inventory do not include ______________?

A direct materials inventory

B work in process inventory

C finished goods inventory

D indirect material inventory

Review Detailed Answer

Correct Answer: indirect material inventory

As compared to irrelevant cost, the occurrence of relevant costs must ___________?

A have high correlation

B be in future

C be in past

D be zero correlated

Review Detailed Answer

Correct Answer: be in future

The machine budgeted time standards are set too tight, is the possible cause for ____________?

A priced budget

B exceeding budget

C fixed budget

D variable budget

Review Detailed Answer

Correct Answer: exceeding budget

The factor, which is largely considered in making or buying decisions is __________?

A quality of suppliers

B dependability of suppliers

C production irrelevancy

D both a and b

Review Detailed Answer

Correct Answer: both a and b

If an actual variable quantity is 70, the actual and budgeted overhead cost of allocation is $8650 and $3500 respectively, then the variable overhead spending variance will be __________?

A $660,500

B $560,500

C $460,500

D $360,500

Review Detailed Answer

Correct Answer: $360,500

The book value of existing equipment is a historical cost and not necessary for deciding equipment replacement, thus it can be considered as ___________?

A operating cost

B sunk cost

C in-house cost

D out-house cost

Review Detailed Answer

Correct Answer: sunk cost

The first step in developing cost rate for budgeted variable overhead is to __________?

A choose the budgeting period

B select allocation bases

C identify variable overhead cost

D compute the per unit rate

Review Detailed Answer

Correct Answer: choose the budgeting period

When the fixed cost is divided into contribution margin per unit, it gives _________?

A fixed output

B variable output

C breakeven number of units

D total number of units

Review Detailed Answer

Correct Answer: breakeven number of units

If fixed overhead allocated for actual output units is $25000 and the production volume variance is $9000, then budgeted fixed overhead will be _____________?

A $34,000

B $24,000

C $16,000

D $18,000

Review Detailed Answer

Correct Answer: $34,000

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

The difference that exists between total revenues, can be earned from two different alternatives is termed as ________?

In cost accounting, the types of inventory do not include ______________?

As compared to irrelevant cost, the occurrence of relevant costs must ___________?

The machine budgeted time standards are set too tight, is the possible cause for ____________?

The factor, which is largely considered in making or buying decisions is __________?

If an actual variable quantity is 70, the actual and budgeted overhead cost of allocation is $8650 and $3500 respectively, then the variable overhead spending variance will be __________?

The book value of existing equipment is a historical cost and not necessary for deciding equipment replacement, thus it can be considered as ___________?

The first step in developing cost rate for budgeted variable overhead is to __________?

When the fixed cost is divided into contribution margin per unit, it gives _________?

If fixed overhead allocated for actual output units is $25000 and the production volume variance is $9000, then budgeted fixed overhead will be _____________?