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Management Sciences 5307 MCQs [All-Courses]

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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.

All Topics  5307

If the price variance is $20 and the budgeted input price is $70, then an actual price will be ____________?
A $90
B $50
C −$50
D $100
Correct Answer: $90
If the budgeted total direct labor hours are 5500 and budgeted direct labor cost is $755000, then the budgeted direct labor cost rate is _________?
A $138 per labor hour
B $137.27 per hour
C $140 per labor hour
D $142 per labor hour
Correct Answer: $137.27 per hour
If the budgeted input quantity is 350 units and efficiency variance is 100, then an actual input quantity will be __________?
A 250 units
B 450 units
C 550 units
D 650 units
Correct Answer: 450 units
If the budgeted total direct labor hours are 3800 and budgeted direct labor cost is $480000, then the budgeted direct labor cost rate will be ___________?
A $126.32 per labor hour
B $128.32 per labor hour
C $130 per labor hour
D $132 per labor hour
Correct Answer: $126.32 per labor hour
If the input used in manufacturing is smaller in quantity and output produced is greater in quantity, this will be categorized under ____________?
A lesser effective
B greater efficiency
C smaller efficiency
D greater effective
Correct Answer: greater efficiency
A document which consists information about labor time usage, for specific job in a specific department, is known as __________?
A selling time record
B labor time record
C buying time record
D direct time record
Correct Answer: labor time record
The master budget, which is based on the planned output level at the start of budget period is considered as ____________?
A static budget
B varied budget
C marketing budget
D methodological budget
Correct Answer: static budget
If an overhead cost of operating a machine is $500000 for 1000 hours, then the cost allocation rate will be ____________?
A $1500 per machine hour
B $250 per machine hour
C $500 per machine hour
D $1000 per machine hour
Correct Answer: $500 per machine hour
If the actual price input is $500, the budgeted price of input is $300 and the actual quantity of input is 50 units, then the price variance would be __________?
A $4,000
B $6,000
C $8,000
D $10,000
Correct Answer: $10,000
If the budgeted direct labor hours are 4550 and direct labor cost rate is $600 per labor hour then, total direct labor cost would be _____________?
A $4,730,000
B $3,730,000
C $2,730,000
D $1,730,000
Correct Answer: $2,730,000
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