m.com part 1 cost accounting mcq with answers pdf download

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1 Cost of Petrol in transportation company as per operating costing is
A.   Fixed cost
B.   Running cost
C.   semi variable cost
D.   Cost
ANS: B
 
 
2 Following is the benefit of budgetary control 
A.   Increases time
B.   Brings down efficiency
C.   Increases cost
D.   Facilitates control
ANS: D
 
 
3 An increase in sales price
A.   does not affect the break-even point
B.   lowers the net profit
C.   increases the break-even point
D.   lowers the break-even point
ANS: D
 
 
4 Fixed overheads variance is favorable when
A.   Actual Fixed Overheads are less than Standard Fixed Overheads
B.   Standard Fixed Overheads are less than actual Fixed Overheads
C.   Standard Fixed Overheads are equal to Actual Fixed Overheads
D.   Actual Fixed Overheads are more than Standard Fixed Overheads
ANS: A
 
 
5 Garage Rent is
A.   Fixed Cost
B.   Variable Cost
C.   Semi Variable Cost
D.   Semi Fixed Cost
ANS: A
 
 
6 The budget which is dynamic is
A.   Fixed budget
B.   Flexible budget
C.   Cash budget
D.   Sales budget
ANS: B
 
 
7 Labour rate variance is favourable when
A.   Actual rate is lower than the standard rate
B.   Actual time is less than standard time
C.   Actual rate is higher than standard rate
D.   Actual rate is equal to standard time
ANS: A
 
 
8 Classification of cost as fixed and variable is of special importance in
A.   Process costing
B.   Unit costing
C.   Operating costing
D.   Standard costing
ANS: C
 
 
9 Contribution margin is equal to
A.   Fixed cost ANS:  variable cost
B.   Sales – variable cost
C.   Sales – fixed assets
D.   Sales – profit
ANS: B
 
 
10 The unit of cost for hospitals is
A.   Per bed
B.   Per ton
C.   Per km
D.   Per Unit
ANS: A
 
 
11 Which of the budget is prepared for a long period of time
A.   Production budget
B.   Cash budget
C.   Purchase budget
D.   Capital expenditure budget
ANS: D
 
 
12 The budget which helps to plan and control cash is
A.   Production budget
B.   Cash budget
C.   Sales budget
D.   Flexible budget
ANS: B
 
 
13 Material cost variance is non controllable when it arises due to
A.   Change in quantity
B.   Change in wastage
C.   Change in tax rate
D.   Change in selling rate
ANS: C
 
14 The unit of cost for Gas companies is 
A.   Per tin
B.   Per cylinder
C.   Per ton
D.   Per kg.
ANS: B
 
15 Production budget is expressed in
A.   Quantity only
B.   Cost only
C.   Quantity and cost
D.   Sales only
ANS: A
 
16 Material cost variance is equal to 
A.   MPV ANS:  MUV
B.   MUV ANS:  MYV
C.   MYV ANS:  MPV
D.   MPV ANS:  MUV ANS:  MYV
ANS: A
 
 
17 The unit of cost for goods transport companies is
A.   Per Unit
B.   Per Ton km
C.   Per Passenger km.
D.   Per ton
ANS: B
 
 
18 Excess of actual cost over standard cost is a
A.   Favorable variance
B.   Unfavorable variance
C.   Abnormal gain
D.   Abnormal loss
ANS: B
 
 
19 What is Marginal Costing?
A.   Cost of an extra unit produced
B.   Cost
C.   Semi-Variable Cost
D.   Fixed Cost
ANS: D
 
20 Rent of Factory Premises is _______
A.   Variable Cost
B.   Semi-Variable Cost
C.   Fixed Cost
D.   Cost
ANS: C
 
 
21 Factory Power (Electricity) is _______
A.   Fixed Cost
B.   Variable Cost
C.   Semi-Variable Cost
D.   Cost
ANS: C
 
 
22 Contribution and ________ are same. 
A.   Profit
B.   Profit Volume Ratio
C.   Variable Cost
D.   Margin of Safety
ANS: B
 
 
23 First Target of any new venture is _______
A.   Profit
B.   Break Even Point
C.   Sales
D.   Contribution
ANS: B
 
 
24 Contribution is __________ if Sales 600000 Variable Cost 250000
A.   450000
B.   350000
C.   250000
D.   850000
ANS: B
 
 
25 Break Even Point 375000 Sales 800000 then Margin of safety is ____________
A.   525000
B.   325000
C.   425000
D.   225000
ANS: C

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