Sales margin variance due to sales quantities is measured as A. Standard profit - Revised standard profit B. Revised standard profit - Budgeted profit C. Standard profit + Revised standard profit D. Revised standard profit + Budgeted profit

Sales margin variance due to sales quantities is measured as
A. Standard profit - Revised standard profit
B. Revised standard profit - Budgeted profit
C. Standard profit + Revised standard profit
D. Revised standard profit + Budgeted profit
by

1 Answer

Answer :

B. Revised standard profit - Budgeted profit
by

Related questions

The sub-variance of material usage variance, known as Material mix variance is measured as A. Total standard cost - Total actual cost B. Standard cost of revised standard mix - Standard cost of actual mix C. (Standard unit price - Actual unit price) * Actual quantity used D. (Standard quantity - Actual quantity) * Unit standard price

Description : The sub-variance of material usage variance, known as Material mix variance is measured as A. Total standard cost - Total actual cost B. Standard cost of revised standard mix - Standard cost of ... unit price) * Actual quantity used D. (Standard quantity - Actual quantity) * Unit standard price

Last Answer : B. Standard cost of revised standard mix - Standard cost of actual mix

Material price, mix, usage and revised quantity variances are measured on _______ basis, whereas material yield variance is measured on _______ basis. A. Output, Input B. Output, Output C. Input, Output D. None of the above

Description : Material price, mix, usage and revised quantity variances are measured on _______ basis, whereas material yield variance is measured on _______ basis. A. Output, Input B. Output, Output C. Input, Output D. None of the above

Last Answer : C. Input, Output

Volume variance arises when A. There is rise in overhead rate per hour B. There is decline in overhead rate per hour C. There is decrease or increase in actual output compared to the budgeted output D. None of the above

Description : Volume variance arises when A. There is rise in overhead rate per hour B. There is decline in overhead rate per hour C. There is decrease or increase in actual output compared to the budgeted output D. None of the above

Last Answer : C. There is decrease or increase in actual output compared to the budgeted output

Gross Profit ratio is also termed as A. Gross Profit Margin B. Gross Margin to net sales C. Both a and b D. All of the above

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The term standard cost refers to the: A. average unit cost of product produced in the previous period B. budgeted unit cost of product produced in a particular period C. average unit cost of product produced by other companies D. average unit cost of product produced in the current period

Description : The term standard cost refers to the: A. average unit cost of product produced in the previous period B. budgeted unit cost of product produced in a particular period C. average unit cost of product produced by other companies D. average unit cost of product produced in the current period

Last Answer : B. budgeted unit cost of product produced in a particular period

Match the columns (a) Activity Ratio -------------------- i) (Actual hours worked / Budgeted hours) * 100 (b) Capacity Ratio ------------------ ii) (Standard hours of actual production / Actual hours worked) * 100 (c) Efficiency Ratio ----------------- iii) (Standard hours for actual output / Budgeted hours) * 100 A. A-ii, B-iii, C-i B. A-i, B-ii, C-iii C. A-iii, B-i, C-ii D. None of the above

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Last Answer : C. A-iii, B-i, C-ii

.Which of the following statements are true about labour idle time? A. Labour idle time variance is not caused by non-availability of raw material B. Labour idle time variance is measured as : Abnormal idle hours * Actual hourly rate C. Labour idle time variance is always unfavorable or adverse D. All of the above

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Sales for desired profit is measured as A. (Fixed cost + profit)/ (P/V Ratio) B. (Fixed cost + profit) * (P/V Ratio) C. (Fixed cost - profit)/ (P/V Ratio) D. None of the above

Description : Sales for desired profit is measured as A. (Fixed cost + profit)/ (P/V Ratio) B. (Fixed cost + profit) * (P/V Ratio) C. (Fixed cost - profit)/ (P/V Ratio) D. None of the above

Last Answer : A. (Fixed cost + profit)/ (P/V Ratio)

The formula used for calculation of labour rate variance is A. Total standard labour cost of actual output - Total actual cost of actual output B. (Standard rate per hour - Actual rate per hour) * Actual Hours C. (Standard time - Actual time) * Standard rate per hour D. Abnormal idle hours * Standard hourly rate

Description : The formula used for calculation of labour rate variance is A. Total standard labour cost of actual output - Total actual cost of actual output B. (Standard rate per hour - Actual rate per hour) ... time - Actual time) * Standard rate per hour D. Abnormal idle hours * Standard hourly rate

Last Answer : B. (Standard rate per hour - Actual rate per hour) * Actual Hours

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Last Answer : D. private-label brands can be sold at lower prices yet generate a higher profit margin because of their lower cost structure

Margin of safety is equal to A. Actual sales – Sales at Breakeven point B. Actual sales + Sales at Breakeven point C. Actual sales x Sales at Breakeven point D. Actual sales / Sales at Breakeven point

Description : Margin of safety is equal to A. Actual sales – Sales at Breakeven point B. Actual sales + Sales at Breakeven point C. Actual sales x Sales at Breakeven point D. Actual sales / Sales at Breakeven point

Last Answer : A. Actual sales – Sales at Breakeven point

Petri is working for Nokia in Finland. He has completed 10 months of his 12-month project, budgeted at $800,000. His earned value analysis shows that variance at completion is $75,000. What is the estimate at completion value for this project? Select one: a. 725,000 b. -725,000 c. -$875,000 d. $875,000 e. $800,000

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Last Answer : d. $875,000

Idle time variance arises when A. Only one grade of labour is used B. Time is lost due to abnormal reasons C. Both a and b D. None of the above

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Last Answer : C. Both a and b

Which of the following statements are true? A. P/V Ratio can never be used to measure break-even point B. Higher the P/V ratio less will be the profit and vice versa C. Concept of P/V ratio is also used to determine profit at a given volume of sales D. All of the above

Description : Which of the following statements are true? A. P/V Ratio can never be used to measure break-even point B. Higher the P/V ratio less will be the profit and vice versa C. Concept of P/V ratio is also used to determine profit at a given volume of sales D. All of the above

Last Answer : C. Concept of P/V ratio is also used to determine profit at a given volume of sales

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Description : Profit-Volume ratio is also known as A. Contribution ratio B. Contribution/Sales ratio C. Marginal Income percentage D. All of the above

Last Answer : D. All of the above

Using equation method, Break-even point is calculated as A. Sales = Variable expenses + Fixed expenses + Profit B. Sales = Variable expenses + Fixed expenses - Profit C. Sales = Variable expenses - Fixed expenses + Profit D. None of the above

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Last Answer : A. Sales = Variable expenses + Fixed expenses + Profit

In context of net operating profit, which of the following statements are true? A. If all costs are variable, the amount of profit obtained in marginal costing and absorption costing will be same. B. If the volume of sales and output is equal in a period, profit will be same in absorption costing and marginal costing. C. Both a and b D. None of the above

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While computation of profit in marginal costing A. Total marginal cost is deducted from total sales revenues B. Total marginal cost is added to total sales revenues C. Fixed cost is added to contribution D. None of the above

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Last Answer : A. Total marginal cost is deducted from total sales revenues

Gross profit ratio is calculated by A. (Gross Profit/Gross sales)*100 B. (Gross Profit/Net sales)*100 C. (Net Profit/Gross sales)*100 D. None of the above

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Last Answer : B. (Gross Profit/Net sales)*100

In marketing, ______ is the focal point. A. Profit B. Sales C. Customer D. All of the above

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Last Answer : C. Customer

Pick out the wrong statement. (A) Gross margin = net income - net expenditure (B) Net sales realisation (NSR) = Gross sales - selling expenses (C) At breakeven point, NSR is more than the total production cost (D) Net profit = Gross margin - depreciation - interest

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Last Answer : b. operating income.

If profit of the company is Rs 20,000 , sales is 10 per unit and variable cost is Rs 4 per unit calculate Margin of safety. a) Rs 33,333.33 b) Rs 16,666.67 c) Rs 10,000 d) Rs 20,000

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Last Answer : a) Rs 33,333.33

Contribution is also known as A. Contribution margin B. Net Margin C. Both a and b D. None of the above

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Last Answer : A. Contribution margin

Which of the following statements is true A. In small quantities, stress is good B. Too much stress is harmful C. All stress is bad D. Only ‘A’ & ‘B’ are right

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Last Answer : D. Only ‘A’ & ‘B’ are right

A company manufactures a single product for which cost and selling price data are as follows: Selling price per unit - Rs. 12 Variable cost per unit - Rs. 8 Fixed cost for a period - Rs. 98,000 Budgeted sales for a period - 30,000 units

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Last Answer : (a) 20%

3. S produces and sells one product, P, for which the data are as follows: Selling price Rs 28 Variable cost Rs 16 Fixed cost Rs 4 The fixed costs are based on a budgeted production and sales level of 25,000 units for the next period(a) 10.1% decrease (b) 11.2% decrease (c) 13.3% decrease (d) 16.0% decrea

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Last Answer : (a) 10.1% decrease

6. Budgeted sales of X for March are 18000 units. At the end of the production process for X, 10% of production units are scrapped as defective. Opening inventories of X for March are budgeted to be 15000 units and closing inventories will be 11,400 units. All inventories of finished goods must have successfully passed the quality control check. The production budget for X for March, in units is:

Description : 6. Budgeted sales of X for March are 18000 units. At the end of the production process for X, 10% of  production units are scrapped as defective. Opening inventories of X for March are ... have successfully  passed the quality control check. The production budget for X for March, in units is:

Last Answer : (d) 16,000

As per section 2(8), of the Sales of Goods Act, insolvent means a person A. Who has ceased to pay his debts in the ordinary course of business B. Or cannot pay his debts as they become due C. Both (a) and (b) D. None of above

Description : As per section 2(8), of the Sales of Goods Act, insolvent means a person A. Who has ceased to pay his debts in the ordinary course of business B. Or cannot pay his debts as they become due C. Both (a) and (b) D. None of above

Last Answer : C. Both (a) and (b)

In India, Inflation measured by the : A. National Income Deflation B. Wholesale Price Index number C. Consumer Price Index D. None of above

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Last Answer : C. Consumer Price Index

Inequality of Income is measured by: A. Human development index B. Gini Coefficient C. Per Capita Income D. Physical Quality of Life Index

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Last Answer : B. Gini Coefficient

Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.

Description : Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.

Last Answer : C. The total value of goods and services measured at current prices

Rate of growth of an economy is measured in term of: A. National Income B. Per Capita Income C. Number of people who have been lifted above the poverty line D. Industrial Development

Description : Rate of growth of an economy is measured in term of: A. National Income B. Per Capita Income C. Number of people who have been lifted above the poverty line D. Industrial Development

Last Answer : A. National Incom

Which of the following statements are true? A. Contribution doesn’t include fixed cost whereas profit includes fixed cost. B. Contribution is not based on the concept of marginal cost. C. Contribution above breakeven point becomes profit. D. All of the above

Description : Which of the following statements are true? A. Contribution doesn’t include fixed cost whereas profit includes fixed cost. B. Contribution is not based on the concept of marginal cost. C. Contribution above breakeven point becomes profit. D. All of the above

Last Answer : C. Contribution above breakeven point becomes profit.

Which of the following are characteristics of B.E.P? A. There is no loss and no profit to the firm. B. Total revenue is equal to total cost. C. Contribution is equal to fixed cost. D. All of the above.

Description : Which of the following are characteristics of B.E.P? A. There is no loss and no profit to the firm. B. Total revenue is equal to total cost. C. Contribution is equal to fixed cost. D. All of the above.

Last Answer : D. All of the above.

Under absorption costing, managerial decisions are based on A. Profit B. Contribution C. Profit volume ratio D. None of the above

Description : Under absorption costing, managerial decisions are based on A. Profit B. Contribution C. Profit volume ratio D. None of the above

Last Answer : A. Profit

When contribution is positive but equal to fixed cost, A. There is loss equal to fixed costs B. There is loss more than fixed costs C. There will be loss less than fixed costs D. There will be neither profit not loss

Description : When contribution is positive but equal to fixed cost, A. There is loss equal to fixed costs B. There is loss more than fixed costs C. There will be loss less than fixed costs D. There will be neither profit not loss

Last Answer : D. There will be neither profit not loss

Which of the following statements related to Contribution Analysis are ture? A. If contribution is zero, there is loss equal to fixed costs B. If contribution is negative, loss is less than fixed costs C. If contribution is positive and more than fixed cost there will be profit. D. All of the above

Description : Which of the following statements related to Contribution Analysis are ture? A. If contribution is zero, there is loss equal to fixed costs B. If contribution is negative, loss is less than fixed costs ... contribution is positive and more than fixed cost there will be profit. D. All of the above

Last Answer : A. If contribution is zero, there is loss equal to fixed costs

Which of the following is responsibility center? A. Expense center B. Profit center C. Investment center D. All of the above

Description : Which of the following is responsibility center? A. Expense center B. Profit center C. Investment center D. All of the above

Last Answer : D. All of the above

In profit center revenue represents a monetary measure of output emanating from a profit center in a given period irrespective whether A. The revenue is realized or not B. The output is sold or not C. Both a and b D. None of the above

Description : In profit center revenue represents a monetary measure of output emanating from a profit center in a given period irrespective whether A. The revenue is realized or not B. The output is sold or not C. Both a and b D. None of the above

Last Answer : C. Both a and b

Profit for the objective of calculating a ratio may be taken as A. Profit before tax but after interest B. Profit before interest and tax C. Profit after interest and tax D. All of the above

Description : Profit for the objective of calculating a ratio may be taken as A. Profit before tax but after interest B. Profit before interest and tax C. Profit after interest and tax D. All of the above

Last Answer : D. All of the above

Cash Flow Statement is prepared from A. Profit and loss account B. Balance Sheet C. Additional Information D. All of the above

Description : Cash Flow Statement is prepared from A. Profit and loss account B. Balance Sheet C. Additional Information D. All of the above

Last Answer : D. All of the above

Profit and Loss Account debit side includes A. Salary B. Discount allowed C. Postage & telegram D. All of the above

Description : Profit and Loss Account debit side includes A. Salary B. Discount allowed C. Postage & telegram D. All of the above

Last Answer : D. All of the above

Under the _____________, both internal and external corporate governance mechanisms are intended to induce managerial actions that maximize profit and A. shareholder value. B. Shareholder theory. C. Agency theory. D. Stakeholder theory. E. Corporate governance theory

Description : Under the _____________, both internal and external corporate governance mechanisms are intended to induce managerial actions that maximize profit and A. shareholder value. B. Shareholder theory. C. Agency theory. D. Stakeholder theory. E. Corporate governance theory

Last Answer : A. shareholder value.

Although the promotion mix is the company’s primary communication activity, the __________________ must be coordinated for greatest communication impact. A. Organizational culture B. Entire marketing mix C. Demand mix D. Profit variables in a company

Description : Although the promotion mix is the company’s primary communication activity, the __________________ must be coordinated for greatest communication impact. A. Organizational culture B. Entire marketing mix C. Demand mix D. Profit variables in a company

Last Answer : B. Entire marketing mix

A distribution channel moves goods and services from producers to consumers. It overcomes the major time, place, and ______________ gaps that separate goods and services from those who would use them. A. possession B. profit C. image D. psychological

Description : A distribution channel moves goods and services from producers to consumers. It overcomes the major time, place, and ______________ gaps that separate goods and services from those who would use them. A. possession B. profit C. image D. psychological

Last Answer : A. possession

Marketers operate in which marketplaces: A. Consumer and business B. Global and non-profit C. a & b both D. None of the above

Description : Marketers operate in which marketplaces: A. Consumer and business B. Global and non-profit C. a & b both D. None of the above

Last Answer : C. a & b both

Total managerial remuneration cannot exceed ____% of net profit A. 11 B. 12 C. 13 D. 14

Description : Total managerial remuneration cannot exceed ____% of net profit A. 11 B. 12 C. 13 D. 14

Last Answer : A. 11