M.Com Part 1
cost and management accounting mcq
1 Contribution =
A. Sales
– Fixed Cost
B. Sales
– Profit
C. Sales
– Variable Cost
D. Variable
Cost + Fixed Cost
ANS: C
2 Insurance of Factory Premises is
_______
A. Semi-Variable
Cost
B. Fixed
Cost
C. Variable
Cost
D. Cost
ANS: B
3 Machinery rent is dependent on
production and different for first 2000 units, from 2000 to 5000 units and
above 5000 units then this rent will be _____
A. Variable
Cost
B. Fixed
Cost
C. Semi-Variable
Cost
D. Cost
ANS: C
4 Security charges paid are _______
A. Fixed
Cost
B. Variable
Cost
C. Semi-Variable
Cost
D. Cost
ANS: A
5 Labour expenses are_______
A. Variable
Cost
B. Semi-Variable
Cost
C. Fixed
Cost
D. Cost
ANS: A
6 Contribution – Profit
A. Variable
Cost
B. Fixed
Cost
C. Sales
D. Break
Even Point
ANS: B
7 Variable Cost is __________ if Sales
500000 and Profit Volume Ratio is 50%
A. 450000
B. 350000
C. 250000
D. 150000
ANS: C
8 Margin of Safety 750000 Sales 1000000
then Break Even Point is ____________
A. 525000
B. 250000
C. 15000
D. 25000
ANS: B
9 Margin of Safety – 500000 & PVR =
40% then Profit =
A. 300000
B. 400000
C. 2000000
D. 200000
ANS: D
10 Variable Cost = 4,00,000 PVR = 80% then
Sales =
A. 1000000
B. 320000
C. 2000000
D. 200000
ANS: C
11 Break Even Point is 100000 PVR = 10%
then Fixed Cost =
A. 1000000
B. 100000
C. 10000
D. 90000
ANS: C
12 Sales = 500000 Contribution = 3,00,000
then Variable Cost =
A. 200000
B. 800000
C. 300000
D. 400000
ANS: A
13 Change in PVR =
A. Contribution/Sales
X 100
B. Change
in Profit/Change in sales X 100
C. Change
in Profit/Change in Sales
D. Sales/Contribution
X 100
ANS: B
14 Change in variable cost reflects in
___________ first
A. Total
Amount
B. Per
Unit
C. Fixed
Cost
D. Total
ANS: B
15 Change in fixed cost reflects in
___________ first
A. Total
Amount
B. Per
Unit
C. Variable
Cost
D. Unit
Cost
ANS: A
16 Material Cost Variance Formula =
A. Material
Cost Variance
B. (Standard
Quantity of Material – Actual Quantity of Material used) X Standard Price of
Material
C. (Standard
Price of Material X Standard Quantity of Material) – (Actual Price of Material
X Actual Quantity of Material used)
D. (Standard
Price of Material – Actual Price of Material) X Actual Quantity of Material
used
ANS: C
17 Material Price Variance Formula =
A. (Standard
Price of Material – Actual Price of Material) X Actual Quantity of Material
used
B. (Standard
Quantity of Material – Actual Quantity of Material used) X Standard Price of
Material
C. (Standard
Price of Material X Standard Quantity of Material) – (Actual Price of Material
X Actual Quantity of Material used)
D. Material
Price Variance
ANS: A
18 Material Usage Variance Formula =
A. (Standard
Price of Material – Actual Price of Material) X Actual Quantity of Material
used
B. (Standard
Quantity of Material – Actual Quantity of Material used) X Standard Price of
Material
C. (Standard
Price of Material X Standard Quantity of Material) – (Actual Price of Material
X Actual Quantity of Material used)
D. Material
Usage Variance
ANS: B
19 Labour Efficiency Variance Formula =
A. (Standard
Rate of Labour – Actual Rate of Labour ) X Actual Labour Hours
B. (Standard
Labour Hours – Actual Labour Hours) X Standard Rate of Labour
C. (Standard
Rate of Labour X Standard Labour Hours) – (Actual Rate of Labour X Actual
Labour Hours)
D. Labour
Efficiency Variance
ANS: B
20 Labour Rate Variance Formula =
A. (Standard
Rate of Labour – Actual Rate of Labour ) X Actual Labour Hours
B. (Standard
Labour Hours – Actual Labour Hours) X Standard Rate of Labour
C. (Standard
Rate of Labour X Standard Labour Hours) – (Actual Rate of Labour X Actual
Labour Hours)
D. Labour
Rate Variance
ANS: A
21 Labour Cost Variance Formula =
A. (Standard
Rate of Labour – Actual Rate of Labour ) X Actual Labour Hours
B. (Standard
Labour Hours – Actual Labour Hours) X Standard Rate of Labour
C. (Standard
Rate of Labour X Standard Labour Hours) – (Actual Rate of Labour X Actual
Labour Hours)
D. Labour
Cost Variance
ANS: C
22 Break Even Point __________
A. Sales
+ Margin of Safety
B. Profit/Contribution
pu
C. Fixed
Cost/Contribution pu
D. Sales
– Contribution
ANS: B
23 Marginal Costing is used for _______
A. Reporting
B. Decision
Making
C. Costing
D. Marginizing
ANS: B
24 Break Even Point =
A. Sales
– Margin of Safety
B. Margin
of Safety/Profit Volume Ratio
C. Fixed
Cost X Profit Volume Ratio
D. Sales
– Variable Cost
ANS: A
25 Showroom Rent paid is_______
A. Variable
Cost
B. Fixed
Cost
C. Semi-Variable
Cost
D. Cost
ANS: B
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Strategic Management
ECONOMICS OF GLOBAL TRADE AND FINANCE
ADVANCED FINANCIAL ACCOUNTING
HUMAN RESOURCE MANAGEMENT