Price and Efficiency Variance MCQ (Multiple Choice Questions) PDF Download

If the actual price input is $700, the budgeted price of input is $400 and the actual quantity of input are 50 units, then the price variance will be

1. $15,000
2. $13,000
3. $11,000
4. $9,000

If the actual input price is $150 and the budgeted input price is $80, then the price variance will be

1. $130
2. $70
3. $150
4. $80

The standard input allows one unit, to be divided by standard cost per output unit, for variable direct cost input to calculate

1. standard price per input unit
2. standard price per output unit
3. standard cost per input unit
4. standard cost per output unit

If the flexible budget variance is $105000, the actual cost is $65000 then the flexible budget cost will be

1. $40,000
2. $50,000
3. $150,000
4. $170,000

The degree which predetermines target or income achieved, can be grouped under

1. growth evaluation
2. performance evaluation
3. efficiency
4. effectiveness