Price and Efficiency Variance MCQs with Answers PDF Download – Test 134

MCQ 666: If an actual input price is $70 and the budgeted input price is $40, then the price variance will be:

1. $120
2. $50
3. $110
4. $30

MCQ 667: If an actual result is $5500 and corresponding amount of flexible budget on the basis of actual level of output is $3500, then flexible budget variance will be:

1. $2,500
2. $5,500
3. $3,500
4. $2,000

MCQ 668: If the flexible budget amount is $7500 and the sales volume variance is $6500, then the static budget amount would be:

1. $7,500
2. $6,500
3. $1,000
4. $10,000

MCQ 669: The budget, which highlights the difference between actual quantity and budgeted quantity is termed as:

1. actual cost budget
2. flexible budget variance
3. inflexible budget
4. hourly budget

MCQ 670: If the fixed cost is $10000, the target operating income is $8000 and the contribution margin per unit is $900, then required units to be sold will be:

1. 45 units
2. 30 units
3. 20 units
4. 52 units