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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 purpose of management accounting is to ___________?

A past orientation

B help banks make decisions

C help managers make decisions

D help investors make decision

Review Detailed Answer

Correct Answer: help managers make decisions

The variance is the stated difference between expected performance and the ___________?

A revenue planning

B actual results

C marketing results

D cost planning

Review Detailed Answer

Correct Answer: actual results

The better fit between estimated cost and actual observations is represented by ___________?

A variable residual terms

B smaller residual terms

C larger residual terms

D zero residual terms

Review Detailed Answer

Correct Answer: smaller residual terms

If the budgeted direct labor hours are 3550 and direct labor cost rate is $500 per labor hour, then total direct labor cost would be __________?

A $1,775,000

B $1,675,000

C $1,875,000

D $1,975,000

Review Detailed Answer

Correct Answer: $1,775,000

If the budgeted input price is $50, the price variance is $30 then an actual price will be ___________?

A $100

B $20

C $80

D $60

Review Detailed Answer

Correct Answer: $80

In Regression Analysis, the testing of assumptions if these are true or not is classified as ___________?

A weighted analysis

B average analysis

C significance analysis

D specification analysis

Review Detailed Answer

Correct Answer: specification analysis

The situation in which the cost object has any job, customer or product is known as _________?

A cost application base

B sale application base

C price application base

D direct application base

Review Detailed Answer

Correct Answer: cost application base

The quantity of input which is carefully determined is called ___________?

A output unit

B input unit

C standard input

D standard output

Review Detailed Answer

Correct Answer: standard input

An estimated coefficient, which indicates the degree by which the estimated values are affected by random factors is known as ___________?

A standard error of estimated coefficient

B weighted error of estimated coefficient

C average of estimated coefficient

D variance of estimated coefficient

Review Detailed Answer

Correct Answer: standard error of estimated coefficient

In normal costing, the budgeted rate is multiplied to an actual quantity, which have been used as the allocation base to calculate ___________?

A budget overhead applied

B manufacturing overhead applied

C labor overhead applied

D none of above

Review Detailed Answer

Correct Answer: manufacturing overhead applied

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

The purpose of management accounting is to ___________?

The variance is the stated difference between expected performance and the ___________?

The better fit between estimated cost and actual observations is represented by ___________?

If the budgeted direct labor hours are 3550 and direct labor cost rate is $500 per labor hour, then total direct labor cost would be __________?

If the budgeted input price is $50, the price variance is $30 then an actual price will be ___________?

In Regression Analysis, the testing of assumptions if these are true or not is classified as ___________?

The situation in which the cost object has any job, customer or product is known as _________?

The quantity of input which is carefully determined is called ___________?

An estimated coefficient, which indicates the degree by which the estimated values are affected by random factors is known as ___________?

In normal costing, the budgeted rate is multiplied to an actual quantity, which have been used as the allocation base to calculate ___________?