Accounting MCQS With Solutions !!

Accounting MCQS With Solutions !!

1. Which one of the following would be the same total amount on a flexible budget and a static budget if the activity level is different for the two types of budgets? A- Direct materials costB- Direct labor costC- Variable manufacturing overheadD- Fixed manufacturing overhead2. The Chambers Manufacturing Company recorded overhead costs of $14,182 at an activity level of 4,200 machine hours and $8,748 at 2,300 machine hours. The records also indicated that overhead of $9,730 was incurred at 2,600 machine hours. What is the variable cost per machine hour using the high-low method to estimate the cost equation? $2.78$2.86$3.10$3.383. Southern Companys budgeted and actual sales for 2009 were:Product:XYBudgeted SalesX-20,000 Units at $5.00 per unitY-35,000 Units at $9.00 per unitActual Sales:X-17,500 Units at $5.30 per unitY-17,300 Units at $8.30 per unitWhat is the total sales variance for the two products? A- $2,210 FavorableB- $5,990 FavorableC- $6,990 FavorableD- $8,200 Favorable4. Southern Company manufactures Product X. The standard cost of one unit of output is $12.00 (four pieces at $3.00 per piece). During the first quarter, 5,000 units were made, at an actual cost of $10.50 per unit (three pieces were $3.50 per piece). What is the material price variance? A- $7,500 FavorableB- $10,000 FavorableC- $7,500 UnfavorableD- $10,000 Unfavorable


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