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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 practice of seller to charge higher price for same market offering is classified as __________?

A peak-load pricing

B elastic pricing

C elastic demand

D inelastic demand

Review Detailed Answer

Correct Answer: peak-load pricing

If the fixed overhead allocated for actual output unit is $7500 and budgeted fixed overhead is $21000, then the production volume variance will be __________?

A $16,500

B $15,500

C $14,500

D $13,500

Review Detailed Answer

Correct Answer: $13,500

The systematic evaluation of value chain, to reduce costs and high quality, to achieve satisfied customers is known as __________?

A reverse engineering

B value engineering

C target engineering

D operation engineering

Review Detailed Answer

Correct Answer: value engineering

A cost, consists of some fixed and some variable cost with respect to machine setup hours is termed as _________?

A setup cost

B batch cost

C facility cost

D lump sum cost

Review Detailed Answer

Correct Answer: setup cost

An income, which a company aims to earn by selling each unit of market offering is classified as ____________?

A target operating income per unit

B target cost per unit

C total current full cost

D total cost per unit

Review Detailed Answer

Correct Answer: target operating income per unit

An unfavorable volume-production variance is used to measure the amount of __________?

A fixed setup cost

B total setup cost

C variable setup cost

D total overhead cost

Review Detailed Answer

Correct Answer: fixed setup cost

The kind of cost which on elimination, would not reduce the perceived usefulness that customers can obtain by using the market offering is known as ___________?

A designed-in costs

B locked-in costs

C value added cost

D non-value added cost

Review Detailed Answer

Correct Answer: value added cost

If an actual cost incurred is $627500, the flexible budget amount is $358750, then fixed overhead variance of flexible-budget will be _________?

A $218,750

B $238,750

C $258,750

D $268,750

Review Detailed Answer

Correct Answer: $268,750

The concept, which states that resources are used to meet particular goals is ____________?

A cost incurrence

B valued incurrence

C locked incurrence

D non valued incurrence

Review Detailed Answer

Correct Answer: cost incurrence

The process of ensuring preventive measure to be done in all machines is classified as _________?

A potential price response

B potential cost response

C potential budget response

D potential management response

Review Detailed Answer

Correct Answer: potential management response

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Management Sciences 5307 MCQs [All-Courses]

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All Topics 5307

The practice of seller to charge higher price for same market offering is classified as __________?

If the fixed overhead allocated for actual output unit is $7500 and budgeted fixed overhead is $21000, then the production volume variance will be __________?

The systematic evaluation of value chain, to reduce costs and high quality, to achieve satisfied customers is known as __________?

A cost, consists of some fixed and some variable cost with respect to machine setup hours is termed as _________?

An income, which a company aims to earn by selling each unit of market offering is classified as ____________?

An unfavorable volume-production variance is used to measure the amount of __________?

The kind of cost which on elimination, would not reduce the perceived usefulness that customers can obtain by using the market offering is known as ___________?

If an actual cost incurred is $627500, the flexible budget amount is $358750, then fixed overhead variance of flexible-budget will be _________?

The concept, which states that resources are used to meet particular goals is ____________?

The process of ensuring preventive measure to be done in all machines is classified as _________?