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Estimating Cost Functions Quiz

MCQ: A helpful technique, for accurate forecasts about costs to be incurred in future is a part of

1. unit estimation
2. production estimation
3. cost estimation
4. price estimation

C

Inventory Costing Methods Quiz

MCQ: An approach used for choosing capacity level, having no beginning inventory, is classified as

1. write off variance approach
2. write in variance approach

A

Price and Efficiency Variance Quiz

MCQ: 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

B

Budgeting and Responsibility Accounting Quiz

MCQ: The difference between the budgeted amounts and the actual results is classified as

1. standard deviation
2. variances
3. mean average
4. weighted average

B

Price and Efficiency Variance Quiz

MCQ: 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

A