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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 consideration of increased operating income relative to budgeted amount is classified as ____________?

A favorable variance

B unfavorable variance

C revenue variance

D cost variance

Review Detailed Answer

Correct Answer: favorable variance

In a normal accounting period, an allocated amount of indirect cost is $700 and an actual amount is $800, then this can be classified as ____________?

A under allocated indirect cost

B over allocated direct cost

C over allocated budget

D under allocated budget

Review Detailed Answer

Correct Answer: under allocated indirect cost

The determined price at which the company expects to pay for every single unit is called ___________?

A standard price

B input price

C actual input

D output price

Review Detailed Answer

Correct Answer: standard price

If an actual indirect cost incur is $35000 and the indirect cost allocated is $43000, then the under allocated indirect cost will be __________?

A $78,000

B −$78000

C −$8000

D $8,000

Review Detailed Answer

Correct Answer: −$8000

In the budget hierarchy, the material handling cost is ___________?

A fixed manufacturing cost

B batch level cost

C per unit cost

D factory overall cost

Review Detailed Answer

Correct Answer: batch level cost

The systematic way of linking group of indirect cost to a cost object is classified as ___________?

A linked allocation base

B direct allocation base

C indirect allocation base

D cost allocation base

Review Detailed Answer

Correct Answer: cost allocation base

Static budget variance for operating income is added in to static budget amount to calculate __________?

A actual result

B expected results

C expected cost

D expected revenue

Review Detailed Answer

Correct Answer: actual result

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

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

The consideration of increased operating income relative to budgeted amount is classified as ____________?

In a normal accounting period, an allocated amount of indirect cost is $700 and an actual amount is $800, then this can be classified as ____________?

The determined price at which the company expects to pay for every single unit is called ___________?

If an actual indirect cost incur is $35000 and the indirect cost allocated is $43000, then the under allocated indirect cost will be __________?

In the budget hierarchy, the material handling cost is ___________?

The systematic way of linking group of indirect cost to a cost object is classified as ___________?

Static budget variance for operating income is added in to static budget amount to calculate __________?

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 ___________?