Management Accounting 3

Multiple Choice Multiple Answer
Question Master budget provides a basis for computing effect of
changes in :
Correct Answer product mix of the company , sales volume ,
production facilities
Your Answer product mix of the company , sales volume , production
facilities

True/False
Question Accounting is an art of recording, classifying &
summarizing in a significant manner.
Correct Answer True
Your Answer True


Select The Blank
Question
Over absorption of overheads may take place due to the reasons like ________ overheads being less than the ________ overheads
Correct Answer actual
Your Answer actual
Correct Answer estimated
Your Answer estimated

Select The Blank
Question
________ Legal charges and ________ are the accounts which are shown on the debit side of Profit & Loss Account
Correct Answer Like office rent,
Your Answer Depreciation on Machinery
Correct Answer Audit fees
Your Answer Like office rent,

Select The Blank
Question
________ of Trial Balance generally ensures ________ accuracy of the process of ledger posting .
Correct Answer Talling
Your Answer Talling
Correct Answer arithmetical
Your Answer arithmetical

True/False
Question While calculating the minimum level, normal lead time is not necessary
Correct Answer False
Your Answer False

True/False
Question To Increase the existing production capacity, additional capital expenditure is required.
Correct Answer True
Your Answer True

Multiple Choice Single Answer
Question
Labour cost indicates that labour cost which cannot be identified with the individual cost centre and is incurred for those employees who are not engaged in the manufacturing process but only assist i
Correct Answer Remuneration
Your Answer Remuneration

Multiple Choice Single Answer
Question
During one week X makes 200 units. He receives wages for a guaranted 44hours per week at a rate of Rs. 1.50 per hour. Estimated time to produce one unit is 15 minutes. Time allowed is increased by 2
Correct Answer Rs. 83.60
Your Answer Rs. 78

Select The Blank
Question
Financial Accounting protects the interest of outsiders . it considers ________ transaction and it is a ________ requirement
Correct Answer historical
Your Answer historical
Correct Answer legal
Your Answer legal

Select The Blank
Question variable cost is the cost that tend to ________ in direct proportion with ________
Correct Answer vary
Your Answer vary
Correct Answer level of activity
Your Answer level of activity

Multiple Choice Multiple Answer
Question Office & Administration overhead includes
Correct Answer Salary , Rent & Taxes , Stationary & postage
Your Answer Stationary & postage , Traveling Expenses

Multiple Choice Single Answer
Question
Calculate Labour Efficiency Variance, If actual rate per hour is Rs.3.50/- , Standard rate is Rs.3/- per unit and standard hours are 15,000 and Actual hours are 13, 500.
Correct Answer Rs.4500/- ( Favorable )
Your Answer Rs.4500/- ( Favorable )

Multiple Choice Single Answer
Question Cost-sheet may be prepared separately for each
Correct Answer Different Cost Centre
Your Answer Cost Centre

Multiple Choice Single Answer
Question
The prime cost is Rs. 10,00,000 the factory cost is Rs. 13,00,000, the total administration overheads are 14,00,000 and having selling overhead of Rs. 86000. What is the Total cost?
Correct Answer
37,86,000
Your Answer
37,00,000

Multiple Choice Multiple Answer
Question
The cost of asset is Rs. 1,10,000, Estimated scrap value 10,000,estimated life 10 yrs. Calculate the depreciation according to straight line method
Correct Answer 10,000
Your Answer 10,000

Select The Blank
Question
To ascertain the ________ of all the transactions recorded in the ledger account, the account is required to be ________
Correct Answer
Net effect
Your Answer
Net effect
Correct Answer
Balanced
Your Answer
Balanced