Period Costs Quiz with Answers PDF Download – Test 145

MCQ 721: The master budget, which is based on the planned output level at the start of budget period is considered as:

1. static budget
2. varied budget
3. marketing budget
4. methodological budget

MCQ 722: The variance is solely because of the difference between budgeted quantity and the:

1. flexible hours
2. actual cost
3. actual quantity
4. actual price

MCQ 723: The customer sustaining costs, customer batch-level costs and customer output-unit level costs are classified as:

1. customer level indirect costs
2. customer level direct costs
3. corporate level direct costs
4. corporate level indirect costs

MCQ 724: The direct manufacturing labor costs is $40000 and manufacturing overhead cost is $7000, then conversion cost would be:

1. $47,000
2. $33,000
3. $57,000
4. $18,000

MCQ 725: In a normal accounting period, the allocated amount of indirect cost is $2000 and the actual amount is $2200, it classified as:

1. over allocated budget
2. under allocated budget
3. under allocated indirect cost
4. over allocated direct cost