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