Management Accounting MCQs and Notes
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Q 1. XYZ factory working for 50 hours per week employs hundred workers on a job work. The standard output is 200 units per gang hour and standard rate is Rs 1 per hour. During a week in June, five employees were paid @ Rs 1.20 per hour and ten employees were paid @ 80 paise per hour. Rest of the employees were paid @ standard hour rate. The actual number of units produced was 10,200. Determine labour cost variance
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Q 2. The purpose of financial accounting is to provide information for ________.
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Q 3. Comprehensive Machine Hour Rate includes :
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Q 4. What is main component of operating expenses?
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Q 5. Which of the following is not likely to be a reason of unfavourable direct labour efficiency variance?
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Q 6. The budget which commonly takes the form of budgeted Profit and Loss Account and Balance Sheet is
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Q 7. If the contribution margin per unit is $700 per unit and the break-even per unit is $40, then the fixed cost would be
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Q 8. In a product mix decision, which is the most important factor to consider to try to maximise profit?
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Q 9. Total revenue from operations ₹27,00,000; Credit revenue from operations ₹18,00,000; Opening Debtors ₹3,20,000; Closing Debtors ₹4,00,000; Provision for Doubtful Debts ₹60,000. Trade Receivables Turnover Ratio will be :
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Q 10. A Company’s Quick Ratio is 1.5 : 1; Current Liabilities are ₹2,00,000 and Inventory is ₹1,80,000. Current Ratio will be :
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